Powell’s speech later today at the Federal Reserve’s annual conference at Jackson Hole will be scrutinised for any indication that an economic slowdown might alter its strategyFederal Reserve Board Chairman Jerome Powell. Picture: REUTERS/ELIZABETH FRANTZ
"Economists are clearly calling for the Fed not to blink, and if anything accelerate the pace of tightening."US S&P futures fell 0.25%, European stocks edged up 0.16% and Britain’s FTSE 100 rose 0.58%. "So it is a fair bet that the Powell speech will take a similar turn today," said Robert Carnell, regional head of Research, Asia-Pacific, at ING.
Sterling fell 0.44% against the dollar after Britain’s energy regulator said energy bills will rise 80% from October.
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