Investors will be closely watching the Kansas City Federal Reserve’s Economic Policy Symposium at Jackson Hole on August 22-24 for clues about the timing of US rate cuts, following a rollercoaster of recent economic data.
A much weaker-than-expected US payrolls report in early August sparked fears of a recession, which drove investors to crank up their bets on imminent rate cuts, and triggered a plunge in global markets.
But subsequent data, including softer inflation figures and a strong retail sales report, have damped down predictions of a jumbo 0.5 percentage point cut in September and soothed investors’ concerns about the health of the economy.
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