All eyes on the Fed at Jackson Hole amid market rebound: What to know this week
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Stocks had their best week of 2024 with the S&P 500 rising nearly 4%, Nasdaq Composite up over 5.2%, and Dow Jones Industrial Average increasing almost 3%; Federal Reserve Chair Jerome Powell is expected to speak on August 23, 2024, at the Jackson Hole Symposium; Investors anticipate hints on interest rate cuts in 2024; Recent economic data shows inflation falling towards the Fed's 2% goal, with consumer spending stable and layoffs not increasing; Bank of America Securities' Michael Gapen notes the data supports a soft landing for the economy; Markets are pricing in a 76% chance of a 25 basis point rate cut by the end of September; Citi projects S&P 500 to end the year at 5,800; Economic data releases include jobless claims and PMI reports.
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https://emeatribune.com/all-eyes-on-the-fed-at-jackson-hole-amid-market-rebound-what-to-know-this-week/
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