Fed's Powell Speech Preview: Focus on Rate Cut Path and Policy Framework Review

ChainCatcher news, according to Jinshi reports, Powell's speech at Jackson Hole will focus on the interest rate cut path and the review of the policy framework. Most institutions expect him to take a neutral stance, without clear signals for rate cuts, while possibly downplaying the flexible average inflation target and emphasizing the balance between employment and inflation. Powell may acknowledge that CPI has eased but is still above the target, and pay attention to service sector inflation and tariff pressures. He may also respond to the cooling of non-farm data and employment market issues, but will downplay the impact of single data points.