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Commentary
The upcoming Kansas City conference (August 27-29), being held in Jackson Hole, Wyoming, is expected to dominate the financial headlines this week. Essentially, the financial news media loves following the Fed and other central bankers at Jackson Hole – a scenic summer vacation spot – so I am expecting upbeat news on inflation and some other Fed talking points. Although the 2-year Treasury note remains above the Fed Funds rate, due to a poor payroll report, better-than-expected inflation news, and a decline in retail sales in July, for now, it seems the pressure is off the Fed to raise key interest rates, so I am hoping Fed Chairman Kevin Warsh will talk about the deflationary benefits of AI productivity gains at Jackson Hole….
The upcoming Kansas City conference (August 27-29), being held in Jackson Hole, Wyoming, is expected to dominate the financial headlines this week. Essentially, the financial news media loves following the Fed and other central bankers at Jackson Hole – a scenic summer vacation spot – so I am expecting upbeat news on inflation and some other Fed talking points. Although the 2-year Treasury note remains above the Fed Funds rate, due to a poor payroll report, better-than-expected inflation news, and a decline in retail sales in July, for now, it seems the pressure is off the Fed to raise key interest rates, so I am hoping Fed Chairman Kevin Warsh will talk about the deflationary benefits of AI productivity gains at Jackson Hole….
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