Fed’s Powell opens door to potential rate cuts at Jackson Hole
As traders approach another pivotal day for financial markets, a series of crucial decisions and economic data releases that could sway market dynamics are expected on Thursday, August 21, 2025. The day’s lineup includes key reports on manufacturing and services PMI, initial jobless claims, existing home sales, and the closely watched Philadelphia Fed Manufacturing Index.
Major Economic Events to Watch
• 8:30 AM ET - Philadelphia Fed Manufacturing Index (Forecast:6.8, Previous: 15.9): Gauges business conditions in the Philadelphia area
• 8:30 AM ET - Initial Jobless Claims (Forecast:226K, Previous: 224K): Measures first-time unemployment insurance claims
• 9:45 AM ET - Manufacturing PMI (Forecast:49.7, Previous: 49.8): Indicates activity level of purchasing managers in manufacturing
• 9:45 AM ET - Services PMI (Forecast:54.2, Previous: 55.7): Measures activity level of purchasing managers in services sector
• 10:00 AM ET - Existing Home Sales (Forecast:3.92M, Previous: 3.93M): Tracks sales of previously owned homes
Other Important Economic Events to Watch
• All Day - Jackson Hole Symposium: Annual gathering of central bankers and economists
• 7:30 AM ET - FOMC Member Bostic Speaks: Atlanta Fed President’s remarks on monetary policy
• 8:30 AM ET - Philly Fed Employment (Previous:10.3): Employment component of the Philadelphia Fed Index
• 8:30 AM ET - Continuing Jobless Claims (Forecast:1,960K, Previous: 1,953K): Ongoing unemployment insurance claims
• 9:45 AM ET - S&P Global Composite PMI (Previous:55.1): Combined manufacturing and services sector activity
• 10:00 AM ET - Existing Home Sales (Previous:-2.7%): Month-over-month change in existing home sales
• 1:00 PM ET - 30-Year TIPS Auction (Previous:2.403%): Treasury Inflation-Protected Securities auction results
• 4:30 PM ET - Fed’s Balance Sheet (Previous:6,644B): Federal Reserve’s assets and liabilities
• 4:30 PM ET - Reserve balances with Federal Reserve Banks (Previous:3.328T): Depository institutions’ reserve accounts
Other Economic Events to Watch
• 8:30 AM ET - Philly Fed Business Conditions (Previous:21.5): General business outlook in Philadelphia region
• 8:30 AM ET - Philly Fed New Orders (Previous:18.4): New orders component of Philadelphia Fed Index
• 8:30 AM ET - Philly Fed Prices Paid (Previous:58.80): Price pressures faced by manufacturers
• 8:30 AM ET - Philly Fed Capex Index (Previous:17.10): Capital expenditure plans of manufacturers
• 8:30 AM ET - Jobless Claims 4-Week Avg. (Previous:221.75K): Smoothed measure of initial jobless claims
• 10:00 AM ET - US Leading Index (Forecast:-0.1%, Previous: -0.3%): Composite of economic indicators
• 10:30 AM ET - Natural Gas Storage (Previous:56B): Weekly change in natural gas inventories
• 11:30 AM ET - 4-Week Bill Auction (Previous:4.280%): Short-term Treasury bill auction results
• 11:30 AM ET - 8-Week Bill Auction (Previous:4.185%): Short-term Treasury bill auction results
For further information and the latest updates, please refer to our Economic Calendar, here.
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