Wall Street is betting that Powell will confirm a rate cut, but is vague about the magnitude

Odaily Planet Daily News: Wall Street is betting that Federal Reserve Chairman Powell will confirm at the Jackson Hole annual meeting that the Fed is about to cut interest rates. But as the focus shifts from 'whether or not there will be a rate cut' to 'how big the rate cut will be', stock traders may be disappointed. If traders hear about an upcoming interest rate cut, the stock market will react positively, "said Eric Beiley, Executive Managing Director of Wealth Management at Steward Partners Global Advisory. If the desired information is not heard, it will trigger a large-scale sell-off. The market fully expects the Federal Reserve to start cutting interest rates at its September meeting. But Powell was easily tight lipped about the timing of the interest rate cut when he spoke on Friday. Based on his characteristics, he is also likely to adopt a cautious and ambiguous approach to reveal how much interest rates may decrease after the Federal Reserve completes easing. The market is confident that there will be a rate cut soon, "Beiley said. If Powell does not emphasize that this is the future path, it would be a huge surprise. (Golden Ten)