What to Expect at Jackson Hole Next Week?

Traders will next hear from Federal Reserve Chair Jerome Powell during his highly anticipated address at the Jackson Hole Economic Symposium. The key question hanging over the market: Will Powell use this speech to pave the way for a potential interest rate cut in September?

Scott Helfstein, head of investment strategy at Global X, argues that Powell should take this opportunity to celebrate the Fed's achievements and steer the market toward a 25-basis-point cut next month.

Powell is expected to continue the tradition of Fed chairs delivering opening remarks at the Jackson Hole conference, scheduled for Friday morning next week. Market participants are currently divided on whether the Fed will opt for a 25- or 50-basis-point reduction.

However, the true size of the cut could be influenced by the August jobs report, set to be released just a week after the Jackson Hole summit.