Rate-Cut Speculation on Hold: CITIC Securities Awaits Powell at Jackson Hole

CITIC Securities has paused its expectation of a September rate cut, citing the current market pause as it awaits insights from Federal Reserve Chairman Jerome Powell’s upcoming speech at the Jackson Hole Global Central Bank Annual Meeting. While July’s CPI fueled speculation for a rate-cut trade, a stronger-than-expected July PPI reading on August 14 dampened this optimism.