Markets Cautious Ahead of Jackson Hole

Bloomberg's Tom Keene, Lisa Abramowicz and Michael McKee discuss remarks from Fed Chair Jay Powell following his speech at the Jackson Hole Symposium on a special edition of Bloomberg Surveillance.They speak with: Jim Bullard, Former St. Louis Fed President Kate Moore, Citi Wealth CIO Rich Clarida, Former Fed Vice ChairFederal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain.“The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance,” Powell said in remarks prepared for the Fed’s annual conference in Jackson Hole, Wyoming on Friday. “Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Following Powell’s remarks investors boosted bets that the Federal Open Market Committee would cut rates at their Sept. 16-17 meeting. See omnystudio.com/listener for privacy information.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyAugust 21st, 2025Featuring:1) Bloomberg Surveillance host Tom Keene joins from Jackson Hole to preview Jay Powell's speech. The Federal Reserve's annual conference began Thursday evening with a dinner for central bankers, economists, and journalists. Chair Jerome Powell will speak Friday at 10 a.m. New York time, and investors will be listening for any hint of what policymakers may do at their September meeting.2) Kristina Hooper, Chief Market Strategist at Man Group, joins to talk about markets walking on eggshells ahead of Jackson Hole and discusses the long-term outlook for the 10-year yield. US stock futures paused this week’s run of losses ahead of Federal Reserve Chair Jerome Powell’s Jackson Hole address, with markets scaling back bets on imminent rate cuts.3) Karen Manna, Investment Director at Federated Hermes, talks about ongoing pressure on the Fed and Fed independence as all eyes remain on Jackson Hole. Fed watchers and investors will be listening for any hint of what policymakers may do at their September meeting. The US central bank may be on the cusp of again lowering interest rates, after keeping them on hold this year to gauge how tariffs would impact the economy. Powell could indicate this week if his colleagues are leaning one way or the other. With inflation above the Fed’s 2% target at the same time that hiring is cooling, officials have so far been divided on how soon cuts can come.4) RaeAnne Mitrione, Partner at Callan Family Office, discusses the market pricing in Fed easing as consumers remain resilient and inflation remains uncertain. Market pricing shows investors expect a rate cut in September, followed by at least one more later this year. President Donald Trump, a frequent critic of the Fed, has demanded that Powell and his colleagues lower rates significantly, with some in the administration calling for an outsize half percentage point cut next month.See omnystudio.com/listener for privacy information.

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- Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City- Betsy Duke, former Federal Reserve Governor- Claudio Irigoyen, Head: Global Economics Research at Bank of America- John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co. Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, sits down with Bloomberg's Michael McKee for an extended discussion, covering topics that include Fed independence, the labor market, and the Fed's position on inflation. Betsy Duke, former Federal Reserve Governor, discusses Fed independence and the Trump administration's pressure to oust Fed governor Lisa Cook. Claudio Irigoyen, Head: Global Economics Research at Bank of America, discusses the US economic and market outlook amid uncertainty surrounding labor and inflation. John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co., discusses his outlook for the S&P and 2025 and the bull case for equities.See omnystudio.com/listener for privacy information.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with David Rosenberg & Michael McKee Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

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Featuring: -Howard Marks, Co-Chairman of Oaktree Capital Management-Eugenio Aleman, Raymond James Chief Economist-Eric Freedman, US Bank CIOSee omnystudio.com/listener for privacy information.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyAugust 20th, 2025Featuring:1) David Rosenberg, Founder and President Rosenberg Research & Associates, on how the bloom may be off the rose for markets. 2) Monica Guerra, Head: US Policy at Morgan Stanley, looks ahead to Jackson Hole and what we can expect to hear from Fed Chair Jay Powell. 3) Alicia Levine, Head of Investment Strategy and Equities at BNY, on how Trump's tariffs have quieted concerns about the deficit. 4) Lisa Mateo joins with the latest headlines in newspapers across the US...including how makeup is the answer for Louis Vuitton and Chipotle wants to turn dorm rooms into burrito bowls.See omnystudio.com/listener for privacy information.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Terry Haines & Lori Calvasina. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

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