Watch Live: Fed Chair Powell Delivers His Final Remarks From Jackson Hole
Watch Live: Fed Chair Powell Delivers His Final Remarks From Jackson Hole
The big day has finally arrived as Fed Chair Powell delivers what will be his last speech from the wilds of Wyoming.
The big question here is whether he will specifically set up a September rate cut. At his last press conference, on July 30, Powell declined to tip his hand on whether he expected to move in September.
At that July press conference, Powell highlighted that several economic reports were due before the September meeting.
“We’ll be taking that information into consideration and all the other information we get as we make our decision at the September meeting,” he said back then.
What have the reports shown?
Most memorably, that the job market looks much weaker than it did on July 30.
Major data revisions showed the average three-month payroll gain went from 150,000 before the July employment report to just 35,000.
Amid much speculation of what he will offer up to the market gods amid the summer doldrums, Goldman Sachs expects Powell to modify his statement from the July FOMC press conference that the FOMC is “well positioned” to wait for more information.
Instead, he might note that the FOMC is well positioned to address risks to both sides of its mandate but emphasize that downside risks to the labor market have grown following the July employment report, while reiterating that tariffs are likely to have only a one-time effect on the price level.
We expect the FOMC to partially reverse some of the changes it made in 2020, as it has foreshadowed in the minutes to its recent meetings.
Specifically, we expect the FOMC to return to saying that it will respond to “deviations” from maximum employment in both directions rather than just to “shortfalls” or to at least water down the shortfalls language and to return to flexible inflation targeting (rather than flexible average inflation targeting) as its main strategy while retaining the option to use a make-up strategy at the zero lower bound.
Additionally, Academy Securities, Peter Tchir expects Powell to push back on the "labor market is weak" narrative (which Tchir continues to believe is true and why the Fed should be cutting in September).
Economists seem to be honing in on a “replacement rate” level of hiring, in the 50k to 80k range.
That seems low and if discussed, will likely agitate the President as numbers less than 100k as the level of hiring required to keep the unemployment rate stable, just don’t seem that exciting.
Even if the Fed plans to cut, they would like it to be a bit of a surprise (keeping the probability of a rate cut at the next meeting closer to 50 than 100 likely suits them best).
If Powell is able to convince markets jobs are comfortable but inflation isn’t, look for bond yields to go higher, dragging stocks down with them.
Some of this already has been priced in, so the move should be “normal” in size, rather than some outlier.
Recent news on the AI/Data Center side seems to have slowed the excitement for investing in those sectors a little this week.
The market's reaction to Powell's has been varied over the years...
Watch the full speech live here (due to start at 1000ET):
Fri, 08/22/2025 - 09:45
Amid much speculation of what he will offer up to the market gods amid the summer doldrums, Goldman Sachs expects Powell to modify his statement from the July FOMC press conference that the FOMC is “well positioned” to wait for more information.
Instead, he might note that the FOMC is well positioned to address risks to both sides of its mandate but emphasize that downside risks to the labor market have grown following the July employment report, while reiterating that tariffs are likely to have only a one-time effect on the price level.
We expect the FOMC to partially reverse some of the changes it made in 2020, as it has foreshadowed in the minutes to its recent meetings.
Specifically, we expect the FOMC to return to saying that it will respond to “deviations” from maximum employment in both directions rather than just to “shortfalls” or to at least water down the shortfalls language and to return to flexible inflation targeting (rather than flexible average inflation targeting) as its main strategy while retaining the option to use a make-up strategy at the zero lower bound.
Additionally, Academy Securities, Peter Tchir expects Powell to push back on the "labor market is weak" narrative (which Tchir continues to believe is true and why the Fed should be cutting in September).
Economists seem to be honing in on a “replacement rate” level of hiring, in the 50k to 80k range.
That seems low and if discussed, will likely agitate the President as numbers less than 100k as the level of hiring required to keep the unemployment rate stable, just don’t seem that exciting.
Even if the Fed plans to cut, they would like it to be a bit of a surprise (keeping the probability of a rate cut at the next meeting closer to 50 than 100 likely suits them best).
If Powell is able to convince markets jobs are comfortable but inflation isn’t, look for bond yields to go higher, dragging stocks down with them.
Some of this already has been priced in, so the move should be “normal” in size, rather than some outlier.
Recent news on the AI/Data Center side seems to have slowed the excitement for investing in those sectors a little this week.
The market's reaction to Powell's has been varied over the years...
Watch the full speech live here (due to start at 1000ET):
Tyler Durden | Zero Hedge
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Bonds & Bullion Bid As Fed Chair Powell Delivers 'Dovish' Remarks From Jackson Hole | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
"[Defendants] consulted with no stakeholders or experts and did not evaluation of the environmental risks," wrote the 68-year-old Williams, who was appointed by President Obama in 2011. "There weren't 'deficiencies' in the agency's process. There was no process." Williams pointed to "a myriad of risks" to the Everglades environment, including wastewater discharge and rain runoff.
Florida's Division of Emergency Management appealed the ruling almost immediately after it was released. Florida and the Trump administration had argued there was no environmental impact to consider, because there was 
In a statement issued after the ruling, Paul Schwiep, who represented Friends of the Everglades and Center for Biological Diversity, offered his own depiction of the project:
“The state and federal government paved over 20 acres of open land, built a parking lot for 1,200 cars and 3,000 detainees, placed miles of fencing and high-intensity lighting on site and moved thousands of detainees and contractors onto land in the heart of the Big Cypress National Preserve, all in flagrant violation of environmental law."
Williams said Florida and the federal government "offered little to no evidence" as to why the facility had to be built in the Everglades. "[It's] apparent ...that in their haste to construct the detention camp, 
Though it's a preliminary injunction as the case is further litigated, Williams set a 60-day deadline for Florida and the feds to remove current detainees and to start dismantling critical features of the facility, including fencing, lighting and power generators. A temporary restraining order issued on Aug 7 had 
In premarket trading, Nvidia shares fell 1.1% after the chip giant instructed component suppliers including Samsung Electronics and Amkor to stop production related to the H20 AI chip. Other Magnificent Seven stocks were all higher (Alphabet +1.1%, Tesla +0.5%, Apple +0.5%, Microsoft +0.09%, Amazon +0.4%, Meta +0.2%). Here are the other notable premarket movers:
Biohaven shares (BHVN) gain 13% after the company said the FDA communicated to the company on Aug. 21 that an expected decision regarding the NDA for Troriluzole will still be the fourth quarter.
Cameco (CCJ) shares rise 1.9% in premarket trading after National Bank Financial raised its price target on the uranium company to C$115 from C$110 as it sees the company’s Westinghouse stake adding value.
Gap shares (GAP) fall 2.1% in premarket trading on Friday as Barclays downgrades to equal-weight from overweight saying the previous bullish scenario for double-digit operating margins by FY26 is off the table.
Intuit shares (INTU) decline 6.1% ahead of the bell after the tax software company’s tepid forecast overshadowed an otherwise strong fourth quarter report.
Ross Stores shares (ROST) rise 2.7% after the retailer posted earnings per share for the second quarter that beat the average analyst estimate after better-than-expected tariff-related costs.
Workday shares (WDAY) drop 5.1% after the human-resources software company reported second-quarter professional services adjusted gross profit that missed estimates. The company also announced it has agreed to acquire Paradox.
Zoom Communications shares (ZM) rise 5.0% in premarket trading on Friday after the video conferencing company raised its revenue guidance for the full year, beating the average analyst estimate.
Trucking stocks might be active on Friday after Secretary of State Marco Rubio said that US will halt issuance of worker visas for commercial truck drivers. Watch: Saia, Old Dominion Freight Line, Knight-Swift Transportation and JB Hunt.
A selloff in big tech this week halted the record-breaking rally in US stocks, ahead of Powell’s latest policy blueprint, which will signal whether the Fed will stay cautious on inflation, which is showing signs of stickiness, or tilt toward supporting a softer labor market. A Bloomberg equal-weighted index of the Mag 7 has dropped 3.4% since Monday, putting it on track for its steepest weekly decline since April’s market rout.
The stakes are heightened by pressure from the Trump administration to cut rates and growing divisions within the Fed’s rate-setting committee. To keep his options open, Powell may emphasize that the Fed’s September move will be guided by employment and inflation figures set for release early next month. Swaps have reduced the odds of aggressive near-term easing, now pricing about a 65% chance of a cut next month and fewer than two moves this year. Little more than a week ago, markets were betting on a full quarter-point cut in September, with some traders even positioning for a half-point move.
Powell is due to speak at 10 a.m. New York time (
There are no indicators as of yet that Bolton, who was Trump's national security adviser from 2018 to 2019, has been arrested or taken into custody.
"NO ONE is above the law," FBI Director Kash Patel 
Back in January Bolton had been among former top officials, and Trump adversaries, to get their costly security protections stripped.
Axios also recalls that Bolton 
Trump made the remarks during a nearly 30-minute-long interview with Fox News’ Brett Baier which was filmed on Air Force One and aired while the president was in Alaska meeting with Russian President Vladimir Putin.
“I will never do it as long as you’re president; President Xi told me that, and I said, well, I appreciate that,” Trump said.
The guarantee does not extend to future administrations, the president noted.
“But he also said, but I am very patient, and China is very patient,” Trump said. “Say, well, that’s up to you, but it better not happen now.”
It remains unclear when Xi made the remarks.
The White House did not respond to requests for comment before publication.
Taiwan, a self-governing democratic island territory, is viewed by Beijing as a breakaway province. Its freedom remains a volatile point of contention in U.S.-China relations.
The United States guarantees defensive arms to Taipei under the Taiwan Relations Act.
Xi has vowed to achieve “reunification” with the island by any means necessary, and he’s ramped up military exercises in the waters around the island.
Optimism that the president’s foreign policy agenda will deter China’s aggression is a recurring theme in the administration’s first 200 days.
Treasury Secretary Scott Bessent told CNBC host Andrew Ross Sorkin in March that China will stay out of Taiwan.
“I follow President Trump’s lead, and he is confident that President Xi will not make that move during his presidency,” Bessent said.
U.S. Defense Secretary Pete Hegseth publicly 
The plan would mandate that messaging platforms, including WhatsApp, Signal and Telegram, must scan every message, photo and video sent by users starting in October, even if end-to-end encryption is in place, popular French tech blogger Korben 
EU Chat Control bill finds support. Source: 
An infographic explaining the proposed EU Chat Control bill. Source: Patrick Breyer
France faces societal collapse over censorship
Last month, Telegram founder Pavel Durov warned that 
Then I thought about it a bit more.
Most of us who have been in the markets have probably spent at least six of the 12 first Fridays of the month every year scratching our heads when the monthly report is released. Our staff economist leads us through the various seasonal adjustments, model adjustments, survey participation rates, data revisions to the last two reports and other assorted “kinks” in the reporting, and by the end it usually sounds like nonsense. I believe these monthly reports warrant a good dose of skepticism.
Year-over-year however, I always thought the numbers were relatively accurate, which is why I was pretty surprised when in February 
A big negative revision for 2024 annual job creation meant that his Democratic opponent had been campaigning on inflated employment numbers. While it was probably just poor data, as Racket’s Matt Taibbi has been tirelessly 
Interestingly, while there was much hand-wringing, the incident passed without any investigation. This was a bit “disconcerting” since the Commodity Futures Trading Commission (CFTC) could have discovered who traded right before 8:30 a.m.
The CFTC could have rounded up all the Futures Clearing Merchants and had them divulge which clients placed the trades. It might have taken subpoenas and some investigative work, but the government has folks who do that sort of thing. As far as we know, this was never done, or at least disclosed.
Hilariously, White House Press Secretary Karine Jean-Pierre contorted herself into a pretzel later in the afternoon, essentially telling the press it was no big deal and if it was, the White House wasn’t the leaker!
The Labor Department conducted an initial investigation as to whether the data was hacked and 
This lab-built virus—A/duck/Hokkaido/Vac-3/2007 (H5N1)—was never observed in nature.
It was artificially assembled, grown in eggs, concentrated, and inactivated with formalin to become the whole-particle vaccine used in long-term testing on nonhuman primates.
The new study comes after NIH-funded researchers at the University of Georgia, Mount Sinai, and Texas Biomed were caught 
The irony? None of these candidates are Jewish. All of them, however, are staunchly anti-Israel. And the newest addition to this cast of characters has a direct tie to one of the world's most prolific spreaders of Chinese Communist Party (CCP) propaganda.
A 
So let me get this straight. The head of "Jews for Zohran" is the niece of Chinese govt allied billionaire Neville Roy Singham. Her mother is not Jewish but rather Sri Lankan/Chinese. The gaslighting they're doing to whitewash Zohran Mamdani's antisemitism is really next level. 
Singham's network operates like a political virus, infecting vulnerable democracies, seeding chaos, and eroding support for America and its allies from within. It has successfully embedded itself in grassroots movements, NGOs, and now electoral campaigns.
The nexus of Neville Roy Singham's global operation and New York's Democratic machine is no laughing matter. The same tactics that fueled violence in Delhi and sowed unrest in California are now knocking on Gracie Mansion's door.
Musk has floated a Tesla investment in xAI for months. In July, following Tesla’s previous annual meeting, he ran a social media poll asking if Tesla should invest $5 billion “assuming the valuation is set by several credible outside investors.” About two-thirds of nearly a million respondents agreed. Musk then pledged to bring the idea to Tesla’s board.
xAI’s path to AGI is proving costly. Bloomberg estimates the startup, founded in 2023, could burn through $13 billion this year. Musk dismissed the report as “nonsense” but didn’t elaborate. Two weeks later, xAI raised $10 billion—half of it through debt, a rare move for a high-growth tech startup. Morgan Stanley reportedly helped facilitate the raise, with SpaceX’s $2 billion investment included.
Grok also sparked controversy last week by posting antisemitic content on X, likening itself to “a mechanized version of Adolf Hitler.” Following the backlash, X CEO Linda Yaccarino resigned. xAI later apologized: “We deeply apologize for the horrific behavior that many experienced.”
Tesla’s last high-profile deal involving a Musk-led company was the 2016 SolarCity acquisition for $2.6 billion—criticized as a bailout but ultimately upheld by Delaware courts.
“We believe Tesla making a big investment in xAI is a key step forward,” Wedbush analyst Dan Ives wrote on Monday.