This is the day. July PCE data lands the same morning as Kevin Warsh's first
Jackson Hole keynote as Fed Chair, his first major speech since taking over in May. Nineteen days before the September FOMC decision.
He's told reporters this speech is about "big questions," not near-term guidance. Don't take that at face value, write the post after the speech lands, not before. A neutral-tone speech is already priced in by most desks.
The market reaction, if there is one, will come from what's unexpected, not from what's expected.
Jackson Hole keynote as Fed Chair, his first major speech since taking over in May. Nineteen days before the September FOMC decision.
He's told reporters this speech is about "big questions," not near-term guidance. Don't take that at face value, write the post after the speech lands, not before. A neutral-tone speech is already priced in by most desks.
The market reaction, if there is one, will come from what's unexpected, not from what's expected.