Possibly one of the more important speeches made annually by the chairman, investors want to glean any possible insight or hints about the future monetary policy of the Federal Reserve.
However, it is highly unlikely that Powell’s speech will have the shock and awe effect of last year’s speech at Jackson Hole where his underlying message was “pain” that would be felt by American consumers. In a 10-minute speech last year, Powell made statements that sent shockwaves through the financial markets.
Jack McIntyre, a Philadelphia-based fixed-income portfolio manager at Brandywine Global Investments Management, is not anticipating the chairman to make any “game-changing” statements in his speech. In a recent interview, he said, “Mr. Powell is likely to say something like "We've done a lot with monetary policy, but there's a lot more to do and our mission is not yet accomplished.”
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