PVG Market In A Minute - August 29, 2023
August 29, 2023
Powell’s speech from Jackson Hole was almost exactly what we expected, the market may have believed it was hawkish. There is now a 20% chance of an interest rate increase in September, a 49% chance in November and by December 2024 a 54% chance that rates will be at least 1% lower. We think these expectations are reasonable.