Rates traders are gearing up for a keynote speech from Federal Reserve Chairman Jerome Powell in Jackson Hole on Friday that could be wildly out of tune with their expectations. Futures markets are calling for the Fed to cut its key policy rate at least 50 basis points by year-end, and more than likely 75. Investors aren’t expecting great detail on the Fed’s plans for interest rates from its marquee annual event in Wyoming, but it’s widely expected that Powell will use the stage to signal more easing. His tone may disappoint. Not for the first time this year, he faces a market heavily invested in lower rates -- and ... (full story)