Could the FOMC minutes be hinting at a hawkish speech at Jackson Hole?
The minutes from the July FOMC meeting may contain important clues about Fed Chair Powell's speech at the Jackson Hole conference tomorrow. With inflation remaining above the 2% target for nearly 5 years and recent weak job reports, the market is awaiting signals regarding the possibility of interest rate cuts in September. The author believes that the July FOMC minutes reflect a hawkish stance and may signal an unexpectedly tough speech from Powell.