Overview

• Powell will deliver remarks at the annual Kansas City Fed symposium on Friday, offering a chance to clarify the Fed’s policy framework and signal the outlook for rate cuts.
• Futures markets currently price in at least two quarter-point rate reductions this year, starting with the mid-September FOMC meeting, driving rallies in homebuilders, industrials and materials stocks.
• Recent consumer spending, jobs figures and wholesale price data have shown resilience, but core inflation remains elevated, leaving investors uncertain about the timing and scale of easing.
• The symposium itself cannot change rates, with the next formal decision scheduled for mid-September, increasing the focus on Powell’s forward guidance.
• Local organizers have closed affected rooms and worked with health officials after several bat encounters at Jackson Hole lodges, and captured bats have tested negative for rabies.