Powell’s Jackson Hole speech looms as markets temper Fed rate-cut bets, with hot PPI data, labor market weakness, and tariff risks clouding outlook.

The takeaway is that markets aren’t pricing in any sort of “succession premium” tied to any one chairman. The glidepath of monetary policy — regardless of Powell’s successor — appears structural, anchored to the Fed’s backward-looking framework . If that holds, it would mark a break from recent history.

The annual Jackson Hole Economic Symposium takes place later this week. It will attract policymakers from around the world and feature highly anticipated remarks from Federal Reserve Chair Jerome Powell.

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.

Get insights on the 2023 Fed Symposium in Jackson Hole. Explore market expectations, Powell's agenda, and potential rate cuts' impact on the economy.

SignalPlus head of Insights Augustine Fan noted that markets have already ruled out any chance of an outsized 50-basis-point cut.

This week's set-piece event is the Jackson Hole central-bank gathering in Wyoming, slated for Thursday through Saturday. Investors will be glued to Federal Reserve Chair Jerome Powell's speech, hoping for any insight into whether the central bank might kick off interest-rate cuts in September.

Gold prices edged lower on Tuesday as the U.S. dollar firmed, while investors hunkered down for Federal Reserve Chair Jerome Powell's speech at Jackson Hole later this week. Spot gold fell 0.4% to $3,