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Powell Is Not About to Go All Volcker on Rates at Jackson Hole, Goldman’s Hatzius Says
The message from markets this past week has been that Federal Reserve Chairman Jerome Powell will channel his inner Paul Volcker and deliver the fire and brimstone of large, inflation-crushing interest-rate increases in remarks at Jackson Hole on Friday. Not so fast, says Goldman Sachs Group Inc. Chief Economist Jan Hatzius. “I think he will lay out a case, as he did in his last press conference, for slowing the pace of increases. We had two 75-basis-point moves. Our expectation would be, barring significant data surprises, that the September move is 50,” Hatzius told Bloomberg Television’s Surveillance on ... (full story)
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