No Pivot in Jackson Hole

Powell focused on inflation and the willingness to tolerate “some pain to households and businesses” to bring inflationary pressures down. He also says that it will likely require maintaining a restrictive policy for some time. This is Fedspeak for: 1)...

What to Expect From Jackson Hole

The Fed’s annual Jackson Hole Economic Policy Symposium takes place on Friday and will open with a speech by Chair Powell at 10am EST. We expect Powell to reiterate that the FOMC remains committed to bringing inflation down and that upcoming policy decisions will...

Will He Stay or Will He Go?

Fed Chairman Powell’s four-year term ends on February 5th, 2022. Historically, appointments (by the President) are typically made in October or early November for upcoming February openings. The reason for the timing is that the nomination needs to go through the...