The highlight of the Kansas City Fed’s Jackson Hole symposium is the Federal Reserve chair’s speech on Friday. This year, the economy faces economic and political cross-currents as Jerome Powell addresses the gathering for the last time.

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.

Federal Reserve chair is under bombardment from Donald Trump and battling an insurgency within the central bank

By Elizabeth Howcroft PARIS (Reuters) -European stock markets fell slightly in early trading on Thursday, hovering just below recent highs, as traders avoided making big moves and waited for the Federal Reserve's three-day annual Jackson Hole symposium.

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