The Jackson Hole meeting is approaching, and Powell may cautiously comment on the prospects of interest rate cuts.

On August 18, the Jackson Hole Symposium is the focus of this week. ANZ economist Shwetha Sunilkumar stated that last year Fed Chairman Powell candidly expressed the reasons for the upcoming rate cut at the conference, but this year Powell may not be so frank.

Sunilkumar added that Powell may indicate a higher likelihood of implementing further easing policies this year, but will not commit to a specific timeline, especially after the stronger-than-expected July services and producer price data released last week heightened inflation concerns. She also pointed out that some regional Fed officials have become more cautious about the timeline for future easing. The bank's benchmark expectation still believes that the Fed will cut interest rates at the September meeting.