The Complete Guide to Goldman Sachs By Investing.com

Next week, the Federal Reserve’s annual symposium in Jackson Hole will once again serve as a crucial event for both economists and market participants.

In a note to clients on Monday, analysts at Goldman Sachs provided a detailed roadmap for navigating the conference, highlighting key issues to watch.

The symposium, held against a backdrop of global economic uncertainty, will feature prominent central bankers including Fed Chairman Jerome Powell, Bank of England Governor Andrew Bailey and European Central Bank Governing Council member Philip Lane. Powell is scheduled to deliver the keynote address on Friday, August 23 at 10:00 a.m. EDT, with Bailey delivering the luncheon keynote later that day at 3:00 p.m. EDT.

Lane will participate in the conference’s closing overview panel on Saturday.

Goldman Sachs notes that while the official schedule will be released on August 22, the most immediate policy insights will likely come from secondary interviews.

These interviews, which often involve Federal Reserve officials and other international central bankers, typically begin on Thursday and continue throughout the conference.

Goldman Sachs says this year’s symposium theme, “Reassessing the Effectiveness and Transmission of Monetary Policy,” will guide academic discussions.

However, the investment bank expects Powell’s speech and subsequent interviews to emphasize reliance on data and a cautious approach to rate cuts.

The firm expects Powell to reiterate the Fed’s willingness to act quickly if economic conditions worsen, but avoid committing to aggressive easing without further data.

Overall, Goldman Sachs views the symposium as a key event to assess the Fed’s near-term policy direction, with implications for market sentiment and the global economic outlook.

However, they explain: “While the academic side of the symposium has the potential to influence the long-term direction of policy, the secondary interviews should shed more light on immediate policy questions. And we should note that this conference is one of many such events held throughout the year, with no particular relevance in this regard.”