Jackson Hole, Powell and labor market
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The annual economics symposium that begins Thursday brings together top monetary policy officials from around the world, and always makes headlines in the financial press. This year, there are at least three reasons the conference is worth paying attention to.
Wall Street's main indexes fell on Thursday as investors awaited monetary policy clues from the Federal Reserve's annual economic symposium, while big-box retailer Walmart's quarterly results dampened sentiment.
The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
Some market participants will have in their minds Powell’s Jackson Hole comments in 2022, when the Fed Chair delivered what Emanuel calls his stern inflation-is-job #1-and-we-are-just-going-to-keep-hiking speech. Stocks did not react well to that.
By Ishaan Arora (Reuters) -Gold ticked up on Wednesday but hovered near three-week lows, as investors looked towards the Federal Reserve's July meeting minutes and the Jackson Hole, Wyoming symposium of central bankers this week for cues on further rate cuts.