Live Appointment: Powell's Final Speech Will Press for Interest Rate Cuts!

Tonight (August 22, 10 AM Eastern Time, 10 PM Beijing Time), Fed Chairman Jerome Powell will deliver a keynote speech at the highly anticipated Jackson Hole Economic Policy Symposium. This annual event, hosted by the Kansas City Federal Reserve Bank, has always been a top platform for global Central Bank officials, policymakers, and economists to discuss economic trends, and Powell's speech is undoubtedly the highlight of this conference. As this will be his last speech in Jackson Hole as Fed Chairman during his term, markets and investors are holding their breath, hoping to capture the Fed's direction on September's interest rate decision. Bloomberg Surveillance will start a special live broadcast at 9 AM Eastern Time (9 PM Beijing Time) hosted by senior anchors Tom Keene and Lisa Abramowicz, providing viewers with real-time interpretations and in-depth analysis.

Economic Crossroads and Political Pressure

Powell's speech comes at a critical turning point for the U.S. economy. Recent data shows that inflation has rebounded due to the global tariff policies implemented by the Trump administration, with the Fed's preferred Personal Consumption Expenditures (PCE) index rising from 2.1% in April to 2.6% in June, above the 2% target. Meanwhile, the labor market is showing signs of weakness, with only 73,000 jobs added in July, far below expectations, and the data for May and June revised down by 258,000, with the unemployment rate slightly rising to 4.3%. This combination of "high inflation + weak employment" complicates the Fed's dual mandate of stabilizing prices and maximizing employment. The market widely expects a 25 basis point rate cut at the FOMC meeting on September 16-17, but whether Powell will clearly signal this move in his speech remains uncertain.

Moreover, Powell is facing unprecedented political pressure from the White House. President Trump has repeatedly criticized Powell publicly, calling for significant interest rate cuts and labeling him a "total disaster." Recently, Trump even called for Fed Governor Lisa Cook to resign, accusing her of mortgage fraud, which has intensified the threat to the Fed's independence. Powell has repeatedly emphasized the Fed's "data-dependent" approach and independence, stating that he will not adjust policies due to political pressure, but his speech this time may indirectly address these controversies, outlining the Fed's position in a complex environment.

Is the interest rate cut signal still cautious observation?

Jackson Hole has traditionally been an important occasion for the Fed to release policy signals. Last year, Powell stated at the meeting that "the time for policy adjustment has come," and subsequently, the Fed initiated a rate-cutting cycle. This year, investors are closely watching whether Powell will continue this tradition and clarify the possibility of a rate cut in September. Evercore ISI analysts predict that Powell may "indirectly hint" at a 25 basis point rate cut while remaining cautious and emphasizing data dependence to avoid excessive market interpretation. However, the uncertainty of rising inflation and tariff impacts may prompt Powell to take a vague stance to avoid locking in specific commitments. Bloomberg analysis points out that Powell needs to balance market expectations with economic realities; any clear signals could trigger stock market volatility, with the S&P 500 expected to experience a 0.8% fluctuation after the speech, significantly higher than the recent daily average.

Live Highlights

To comprehensively interpret Powell's speech, a special live broadcast will begin at 9 AM Eastern Time (9 PM Beijing Time) today. Hosts Tom Keene and Lisa Abramowicz will invite economists and market experts to analyze Powell's wording and its potential impact on global financial markets in real time. The live broadcast will also discuss the long-term effects of Trump's tariff policy on inflation, the vulnerability of the labor market, and the challenges to the Fed's independence under political pressure. Viewers can reserve the YouTube or X (formerly Twitter) live stream through the following link to gain firsthand insights.

Conclusion: A Global Economic Barometer Not to Be Missed

Powell's speech at Jackson Hole tonight is not only a barometer of the Fed's policy direction but also a focal point for the global economic trend. In the dilemma between inflation and employment, how Powell balances political pressure with data-driven decisions is highly anticipated. Whether you are an investor, industry practitioner, or a viewer interested in the global economy, don't miss this highlight moment specially broadcasted by Bloomberg. Tune in at 9 PM tonight to listen to Powell's insights on the U.S. and global economy!

Viewing method:

YouTube reservation link:

X live stream link:

Time: 9 AM Eastern Time on August 22 (9 PM Beijing Time on August 22)