ANZ: Powell may be more cautious in his remarks at Jackson Hole

The Jackson Hole symposium was the focus of the week. ANZ economist Shwetha Sunilkumar said that last year Federal Reserve Chair Jerome Powell made the case for an imminent rate cut at the meeting, but this year Powell may not be so outspoken. Sunilkumar added that Powell may indicate that further easing is more likely this year, but will not commit to a specific time, especially after last week's release of stronger-than-expected July services and producer price data, inflation concerns have intensified. She also noted that some regional Fed officials have become more cautious about the timetable for future easing. The bank's benchmark forecast still sees the Fed cutting interest rates at its September meeting. (Jin Ten)