German Bank: Powell is unlikely to suggest a policy shift, but may lay the groundwork for a 25 basis point rate cut.

Christoph Rieger, head of interest rate and credit research at the German bank, said in a report that the chairman of the Federal Reserve has previously used the Jackson Hole symposium to communicate important changes in policy guidance, but this is unlikely to happen this year. Rieger said, "Although we expect that, compared to previous guidance, Powell's statement this time will not see major changes as the Fed is waiting for more data, it would make sense to open the door to a 25 basis point rate cut in September."