August often brings important messaging shifts from the Federal Reserve, with their Jackson Hole Symposium, scheduled for 28-29 August, the usual forum. And we often speak to Marvin Loh, Senior Macro Strategist on our Americas team, about it. Unique circumstances might limit headline risk this year, but that&#x27;s not for a lack of discussion material. Questions over the tightness of the labor market, the direction of inflation and the communication strategy of the central bank will dominate interest and serve as the jumping off point for a wide-ranging discussion on this week&#x27;s episode.<br>See omnystudio.com/listener for privacy information.

Jackson Hole 2026: Questions of Clarity and Credibility

Street Signals

[SPEAKER_A] This is Street Signals, a weekly conversation about markets and macro brought to you by State Street Markets. I'm your host, Tim Graff, Head of Macro Strategy for Europe. Each week we talk about the latest insights from our award-winning research, as well as the current thinking from our strategists, traders, business leaders, clients, and other experts from financial markets. If you listen to us and like what you're hearing, please subscribe, leave us a good review, get in touch. It all helps us to improve what we offer. With that, here's what's on our minds this week. It's become a tradition to do an episode this time of every year with Marvin Loh, our US rates-focused strategist based in Boston, where he and I chat about the upcoming Jackson Hole Symposium that's hosted by the Kansas City Fed, typically around this time of year in late August. For the last 5 years, Jackson Hole has been an occasion that's used to answer questions about potential shifts in policy. It's also where any changes to the Fed's operating framework are first flagged. But this year it might be a little bit different. Now, don't get me wrong, markets will have a lot of questions about what the Fed is thinking, especially after some of the muddy messaging from their meeting last month. But the Kevin Warsh Fed already has a lot of task forces that are looking into the Fed's operating model, and we probably shouldn't expect too much output from them so soon. Also, there seems to be a pretty healthy debate going on about the near-term path of policy, but it's really hard to see that resolving in the next couple of meetings.

Jackson Hole 2026: Questions of Clarity and Credibility

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Jackson Hole 2026: Questions of Clarity and Credibility

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.