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The Most Important Central Bank Releases This Week
Back to school commercials or preseason football buzz define the end of summer for most people, but for central bankers it is the annual Economic Policy Symposium in Jackson Hole, Wyoming. The Kansas City Fed always holds the schedule of the symposium close to the vest, but we already know that Jay Powell will be speaking. It is a fairly safe bet that Powell will use this forum to discuss the virtues of central bank independence and perhaps signal the Fed’s tightening timeline. The Fed minutes released this week will likely clarify that timeline as well.
Similarly, minutes from the ECB are likely to signal the details of tapering plans, which may be clarified by a speech or two from policymakers in Jackson Hole. The RBA minutes are likely to be less eventful, considering that wait-and-see policy is appropriate given Australia’s current goldilocks economy. Nevertheless, RBA policymakers are clearly concerned about the potential adverse effects of global trade tensions on their export-driven economy, and their speeches this week could address these concerns.
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The Prattle Team