ChainCatcher message, investment banks have significantly diverged in their expectations for interest rate cuts ahead of the upcoming Jackson Hole meeting. State Street Global Advisors expects Powell may pave the way for a rate cut in September, while ANZ believes he might hint at a return to normalizing rates.

UBS thinks Powell may lean towards a September rate cut, while Russell Investments points out that the cut could be 25 basis points. ING mentions that concerns among Federal Reserve officials regarding the job market could lead to a more dovish stance. Bank of America remains skeptical about rate cuts, believing Powell will have the opportunity to make a statement at the meeting.