Institution: Powell to Open Door to September Rate Cut at Jackson Hole

BlockBeats News, August 20th, MainSky Asset Management Company stated that Federal Reserve Chairman Powell is expected to open the door to a rate cut in September at the upcoming Jackson Hole Symposium. MainSky Board Chairman Eckhard Schulte stated that unlike last year's meeting, when Powell prepared the market for a 50 basis point rate cut, this time the cut is expected to be only 25 basis points.

He pointed out: "Unlike last year, the current monetary policy is closer to the 'neutral rate,' so there is no need for a rapid, significant rate hike to achieve normalization." MainSky expects at least one more rate cut in the fourth quarter of this year. (FXStreet)