Watch Live: Fed Chair Powell Speaks At Jackson Hole

You’re heard all the previews (here, here, here, and here), warning of disappointment.

You’ve listened to the under-card (Bostic, Bullard, and Harker all equanimously hawkish)

You’ve seen the decoupling between the market (tighter sooner then easier longer) and The Fed (tighter for longer, not easier for a while)…

Now it’s time for the main event…

As Mohamed El-Erian warned:

“I know what they should do, which is they should not blink…”

As a final point of reference, the market priced in a 48% chance of a 75bps hike in September right before Powell spoke…

Watch Fed Chair Jerome Powell deliver his Jackson Hole speech live (due to start at 1000ET):