Fed's Powell at Jackson Hole
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Heading into Fed Chair Jerome Powell's pivotal speech, financial markets are not completely convinced the central bank will cut interest rates next month. The FedWatch tool from CME, which is based off the trading in fed funds futures,
Ahead of Federal Reserve Chair Jerome Powell's pivotal Jackson Hole address on Friday, cryptocurrency bettors are pricing in more than an 80% chance that the central bank cuts interest rates this year.
Wall Street's main indexes fell on Thursday as investors awaited monetary policy clues from the Federal Reserve's annual economic symposium, while big-box retailer Walmart's quarterly results dampened sentiment.
Brent Donnelly of Spectra Markets ran a sizeable survey of expectations for Fed Chair Jerome Powell's speech, and of the 473 responses, 51% expect a neutral-to-boring outcome and 43% see a hawkish tint.