This week, we will be expecting a big event which is Fed Chair Powell ’s speech at the Jackson Hole Economic Symposium at 10 a.m.(ET) on Friday (23 August). Market is expecting him to clear the path for a rate cut in September, but we would not be able to know the size of the cut. The interest rate expectations have inched back to where they were prior to the 02 Aug jobs report, which caused intense recession fears and inspired some calls for the Fed to immediately lower rates in a rare emergency move; the odds of a 25 basis-point cut on 01 Aug was 78% compared to 22% for a 50 basis-point cut. So we could expect Fed Chair to comment that they are getting more confident that inflation is moving towards their target, and that they can afford to loosen the degree of monetary restrictiveness.