The takeaway is that markets aren’t pricing in any sort of “succession premium” tied to any one chairman. The glidepath of monetary policy — regardless of Powell’s successor — appears structural, anchored to the Fed’s backward-looking framework . If that holds, it would mark a break from recent history.

Gold prices hit their lower level in nearly three weeks on Wednesday as the dollar firmed, while investors awaited the Federal Reserve's Jackson Hole symposium later this week for clues on the path for monetary policy.

Get insights on the 2023 Fed Symposium in Jackson Hole. Explore market expectations, Powell's agenda, and potential rate cuts' impact on the economy.

Investors expecting to hear Federal Reserve Chair Jerome Powell give guidance Friday about the central bank's September meeting may be in for a letdown. This is because Powell will want to keep his options open in his speech in Jackson Hole,

U.S. stocks have tended to fare well around the Federal Reserve's Jackson Hole gathering in August, according to a historical analysis from DataTrek Research, although the market has seen sizable moves in both directions in recent years.

At Jackson Hole, Jerome Powell could lay out more overarching changes to the central bank’s dual mandate that will last long after his tenure is up next May and mark part of his legacy.

This week's set-piece event is the Jackson Hole central-bank gathering in Wyoming, slated for Thursday through Saturday. Investors will be glued to Federal Reserve Chair Jerome Powell's speech, hoping for any insight into whether the central bank might kick off interest-rate cuts in September.

The dollar dipped against the euro and yen on Tuesday as traders waited on the Federal Reserve’s Jackson Hole economic policy symposium later this week for further clues on U.S. interest rate policy.A speech on Friday by Fed Chair Jerome Powell is this week’s main focus,

Later this week, economists, central bankers and members of the business press will gather in Jackson Hole, Wyo. for the Kansas City Fed’s annual Jackson Hole Economic Policy Symposium.