Higher interest rates for longer, maybe.

From Marketplace in Washington, I'm Nancy Marshall-Genzer in for David Boncaccio.

Federal Reserve officials wrapped up a big meeting in Jackson Hole, Wyoming over the weekend

that Chair Jerome Powell kicked things off with a major speech last Friday.

Julia Cornada was there, she's president and founder of macro policy perspectives.

Good morning, Julia.

Good morning.

First, can you give us a sense of the mood at Jackson Hole this year?

I would say the mood is a mix of relief that we are actually making progress on inflation

and the economy has proven more resilient than anyone expected, but also a great deal of

uncertainty about what lies ahead.

Just lots of changes in the global economy, a lot of discussion about shifting globalization,

changing trading patterns, uncertainty about inflation.

So a lot of caution about the outlook as well.

Lots of question marks.

And I see that you wrote on Twitter or X that Powell seemed to be calling for higher interest

rates for longer.

So how much longer and could the Fed raise rates again when it meets in September?

I don't think that the likelihood to raise rates in September is very high.

What Powell expressed was that they have done a lot.

They come very far and that they can be a little bit more patient and gather a little

bit more information before making their next decision.

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