The Jackson Hole conference is a very binary event with the theme of the conference being “Structural Shifts In The Economy”. Will the Fed take the opportunity to talk about a higher inflation target or will they try to kill all hopes of lower interest rates in to 2024? It is either or!
How many hawks and doves will arrive in Wyoming for the Jackson Hole conference? The doves have received a perfect excuse from China and the PBoC will hope and pray that Powell announces an explicit pause, but he won’t.
Will the Jay-Man alleviate some of the pressures on the PBoC at Jackson Hole? And will the ECB strike a different tone than the Fed?