Fed Chairman Powell To Speak On “Economic Outlook” Next Week

Aug. 19 (Reuters) – Federal Reserve Chairman Jerome Powell will speak on “the economic outlook” at a symposium in Jackson Hole, Wyoming, next week, the central bank said Thursday.

The generic description of the highly anticipated speech contrasts with the more specific subject of last year’s address, “Review of the Monetary Policy Framework,” and gives investors and analysts no immediate clue as to the Fed’s timetable for withdraw support for the economy.

The minutes of the Fed’s July meeting suggest that policymakers start cutting their $ 120 billion in monthly asset purchases before the end of the year.

Some analysts expect Powell to present a clearer roadmap next week, particularly if he wants to keep the door open to an earlier start to the cut as some Fed policymakers are advocating worried about recent readings. high inflation. Powell himself has argued that these readings are likely temporary.

Reporting by Ann Saphir Editing by Chris Reese and Sam Holmes

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