Powell will have a window to set the tone for a September rate cut next Friday

Federal Reserve Chairman Powell is scheduled to speak on the economic outlook at 10:00 PM Beijing time next Friday. This is the first full-day meeting of the annual economic seminar held by the Kansas City Federal Reserve in Jackson Hole, Wyoming. This annual global central bank conference provides Powell with an opportunity to make a latest assessment of the trajectory of US economy and monetary policy prospects between Fed's decision-making meetings in July and September. Last month he indicated that if inflation and labor market continue to cool down, The Fed may consider cutting interest rates at its next meeting.