All eyes will be trained on the central bank leader when he delivers his annual address Friday in Jackson Hole, Wyoming.
That's the site of the Kansas City Fed's annual retreat , and often has served as a place for Fed leaders to chart a future course. Powell's speech, slated at 10:05 a.m. ET, could touch on any variety of topics, including the state of inflation, near-term policy implications and his views on whether the economy is still on track to achieve a "soft landing" after a series of interest rate hikes. Those are thorny enough topics by themselves.
That has come with one quarter-point Fed rate hike along with rising expectations that the economy may be able to avoid a much-predicted recession. Less certain is which way inflation is heading. Though recent data has been encouraging, central bank policymakers worry about letting their guard down too soon. Hollenhorst said he thinks the summer lull for inflation is likely to be temporary.
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