Welcome to Seeking Alpha's Wall Street brunch, our Sunday look ahead to this week's market moving events,

along with the weekend's top news and analysis.

Hello today is Sunday August 18th and I'm your host Kim Kaw.

After two weeks that have seen the market swing from crazy to calm the Fed steps up to the mic again.

The Kansas City Fed will hold its annual economic policy symposium

in Jackson Home, Wyoming, starting Thursday.

The key event will be a speech by Fed Chairman Jay Powell on Friday,

which is expected to set the table for a September rate cut.

Evacor ISI says Powell will set the tone for coming monetary easing by leaning into the need to be

proactive rather than reactive with rate cuts, although the details are not expected to be

set until the Fed sees the August employment data out on September 6th.

Ifocor highlighted that the Central Bank is now Labor Data First Fed, not an

inflation data first Fed and the incoming jobs numbers will determine how

aggressively the Fed will act. Currently the market is pricing in a 75%

chance that the Fed cuts by 25 basis points in September.

Bank of America said an important signal would be if Powell is stronger on saying

that the committee wants to avoid unexpected weakness in the labor market

rather than simply responding to it after it occurs.

He may also tip off whether the committee is likely to gradually remove policy accommodations in an uncertain

outlook. The general trend since 2010 has been that the 10-year Treasury yield has risen by five basis points ahead of day one of the Jackson Hole meeting, reversed most of that move after five days and increased leading into September.

On Saturday, Goldman Sachs said favorable macro data

has prompted it to cut the odds of US recession to 20% from 25%.

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