Fed expectations ahead of Jackson Hole

The Federal Reserve is expected to deliver a rate cut in September, but that doesn’t mean inflation concerns have gone away, says Christian Nolting, the Private Bank’s Global Chief Investment Officer. "If consumer price inflation goes higher, which we expect, that could cause some volatility", Christian says, noting that companies have so far been absorbing the impact of tariffs. "Companies are not ready yet to put some costs from the tariffs directly to the consumer, which would be kind of normal behaviour. You do it over time."

Economic data to watch in the week ahead will include housing figures in the US and consumer confidence readings in the eurozone. But Christian says he’ll be focused on the conclave of global central bankers in Jackson Hole. "The Jackson Hole meeting is always very important to get some hints into the direction of monetary policy of the Fed and maybe other central banks as well. I think that's very important to watch."

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