Powell will have a window to set the tone for a September rate cut next Friday

Federal Reserve Chairman Powell is scheduled to speak on the economic outlook at 10:00 p.m. Beijing time next Friday, the first full-day meeting of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming. The annual global central bank meeting provides Powell with an opportunity to make an updated assessment of the trajectory of the U.S. economy and the outlook for monetary policy between the Fed's July and September policy meetings. Last month, he said the Fed may consider a rate cut at its next meeting if inflation and the labor market continue to cool.