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Wall Street Breakfast
All eyes on Powell in Jackson Hole
Aug 23, 2024
In this discussion, Edgar Bronfman, a key negotiator with Paramount, shares insights on the shifting landscape of corporate strategies. They delve into the anticipation surrounding Powell's speech at Jackson Hole and its potential impact on interest rates. The conversation touches on Southwest Airlines' new baggage fees aimed at countering activist pressures and Uber's exciting partnership with GM to roll out autonomous rides. Bronfman's perspective adds depth to these pressing financial topics.
05:28
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Quick takeaways
- Investors are closely watching Powell's speech at Jackson Hole for clues on potential interest rate cuts based on labor market trends.
- Southwest Airlines is considering introducing checked bag fees as part of a strategy influenced by activist investors to enhance revenue.
Deep dives
Federal Reserve's Rate Decision and Economic Indicators
Expectations are building around Federal Reserve Chairman Jay Powell's upcoming speech at the Jackson Hole Economic Policy Symposium, particularly concerning interest rate decisions for September. Investors anticipate commentary on rate cuts, especially after the sudden changes in market behaviors following the July payrolls report, which saw a spike in the odds for a significant rate cut. Recent jobless claims continue to reflect a strong labor market, leading to fluctuations in the anticipated rate cut percentage as markets reassess their earlier projections. With further economic indicators due before the FOMC meeting, including the PCE and employment reports, Powell's insights could significantly influence market expectations for the remainder of 2024.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode