🚨Powell to communicate that Fed is open to 50 bp rate cuts: Evercore 📈

Federal Reserve Chair Jerome Powell is expected to outline a flexible approach to rate cuts during his upcoming speech at the Jackson Hole Economic Symposium. Analysts from Evercore ISI believe Powell will emphasize the Fed's readiness to implement rate cuts, possibly starting in September, if economic conditions, particularly labor data, support such a move. While Powell is likely to maintain a soft baseline of gradual 25 basis point cuts, he will also signal the Fed's openness to more significant cuts (50 basis points) if necessary. Powell's speech will focus on the progress in controlling inflation and balancing the labor market, with the Fed described as "flexible and nimble" in adjusting policy based on evolving economic indicators. The size and pace of rate cuts will depend on upcoming data, especially from the employment sector.

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