(CNBC) Investors are looking for new guidance in Federal Reserve Chairman Jerome Powell’s Jackson Hole, Wyoming, speech Friday, but he could instead deliver the same inflation fighting message, just with a much tougher edge. Powell is expected to emphasize that the central bank will use all the fire power it needs in the form of interest rate hikes to snuff out inflation. He is also likely to point out that after the Fed finishes raising rates, it is likely to hold them there, contrary to market expectations that it will actually start to cut interest rates next year.
Powell is not likely to tell investors what they want to hear in Jackson Hole speech
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