Fed Chair Powell to speak on ‘economic outlook’ next week


Federal Reserve Chair Jerome Powell testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, U.S., July 15, 2021. REUTERS/Kevin Lamarque

Aug 19 (Reuters) – Federal Reserve Chair Jerome Powell will speak on “the economic outlook” at next week’s Jackson Hole, Wyoming symposium, the central bank said on Thursday.

The generic description for the highly anticipated speech contrasts with last year’s more specific listed subject for the address, “Monetary Policy Framework Review”, and gives investors and analysts no immediate clues on the Fed’s timeline for withdrawing its support for the economy.

Minutes of the Fed’s July meeting suggest policymakers are coalescing around beginning to taper their $120 billion in monthly asset purchases before the end of the year.

Some analysts expect Powell to lay out a clearer roadmap next week, particularly if he…

Read more…