Worst Kept Secrets By Benjamin Picton, Senior Macro Strategist at Rabobank Speaking at the Jackson Hole Symposium on Friday evening, Jerome Powell confirmed the worst kept secret that the Fed is poised to deliver an interest rate cut in September. Powell said that “the time has come for policy to adjust”, but didn’t give any clues as to whether the first move would be the standard 25 basis points, or a supersized 50 basis point cut. Market pricing suggests that traders are unsure on that score. The OIS futures currently have 29bps priced in for September, which is near enough… — Continue at ZeroHedge News : Read More
