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Markets are cautious ahead of Powell’s speech


Stock markets continued to rise on Thursday, awaiting the two most important events of the week: the release of the Fed's preferred inflation data and Jerome Powell's remarks at the Jackson Hole symposium.

Chairman Jerome Powell's speech will be scrutinized for signs that an economic slowdown could alter the Fed's strategy. Also, investors are waiting to see whether the central bank can achieve a "soft landing" for the economy.

The market now sees a slightly higher probability of a third 75 basis point rate hike by the Fed at its policy meeting next month, compared to a smaller 50 basis point rate hike. This is because the recent comments from Fed officials are pointing not only to more aggressive hikes but also to keeping rates high for a longer period.

Source: https://capex.com/en/overview/markets-are-cautious-ahead-of-powells-speech
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