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Fed officials will seek to avoid a tantrum at virtual Jackson Hole conclave


CNBC/Patti Domm/8-20-2021

photo of Fed chairman Jerome Powell delivering Congressional testimonyUSAGOLD note: The consensus view is that the Fed will steer a middle course on tapering although Wall Street will be monitoring what is said very closely – in particular Chairman Powell’s speech on Friday. Bank of America’s Mark Cabana offered the most reasonable expectation of what might occur at the meeting saying the bank does not anticipate “a big policy reveal at this meeting.” Treasury yields have steadily declined over the past few months – an indication that the bond market is not anticipating the Fed moving aggressively on the tapering issue.

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