Daily digest market movers: US Dollar weak in anticipation of FOMC minutes and Jackson Hole Symposium
- The release of the FOMC Minutes from the July 30-31 meeting remains the focal market mover today.
- The Fed specified in its statement that it will not consider a rate reduction until it gains greater confidence in sustainable inflation movement toward the 2% target.
- Additionally, the Fed has raised concerns about the state of the labor market.
- These remarks set the stage for a cautious tone from Powell at the Jackson Hole meeting this Friday, suggesting a possible 25 bps cut in September.
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