Goldman Sachs is not expecting a strong signal from Federal Reserve Chair Powell this week

<p>Federal Reserve Chair Powell is speaking later this week at the Kansas Fed's Jackson Hole symposium. </p><ul><li><a href="https://www.forexlive.com/centralbank/note-for-diary-preview-powell-to-speak-at-10-am-et-on-friday-august-25-jackson-hole-20230817/" target="_blank" rel="follow" data-article-link="true">Note for diary &amp; preview – Powell to speak at 10 am ET on Friday August 25 – Jackson Hole</a></li><li><a href="https://www.forexlive.com/news/previewing-the-week-ahead-in-financial-markets-tldr-version-is-nvda-earnings-vs-powell-20230820/" target="_blank" rel="follow" data-article-link="true">Previewing the week ahead in financial markets. TL;DR version is NVDA earnings vs. Powell</a></li></ul><p>Goldman Sachs is not expecting a lot from Powell at Jackson Hole, saying any signals will most likely be held back until after the July PCE inflation and the nonfarm payrolls report that follow next week:</p><ul><li>July PCE inflation is due Thursday 31 August</li><li>Nonfarm payrolls on Friday September 1</li></ul><p>"the Fed will likely wait to be informed by these new data before changing their current posture".</p><p>—</p><p>This is really bad … markets are going to spend the whole week waiting for Powell to move his lips and then shrug it all off with 'never mind, wait for the data next week'. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.