If you're a trader, a business owner, or just someone wondering why your mortgage rate is doing weird things, you've likely heard of Jackson Hole. It isn't just a place for billionaires to ski. Every August, the Federal Reserve Bank of Kansas City hosts a symposium that basically dictates the vibe of the global economy for the next six months. The big question on everyone's mind is always the same: when does Powell speak at Jackson Hole?
Usually, the "Fed Chair speech" is the main event of the entire three-day retreat. Honestly, the rest of the academic papers are great for economists, but the market only cares about Jerome Powell.
The 2025 Schedule: When Does Powell Speak at Jackson Hole?
In 2025, Jerome Powell delivered his keynote address on Friday, August 22, at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time). This has become a bit of a tradition. The symposium typically kicks off on a Thursday evening with a dinner, but the heavy hitting starts Friday morning.
If you are looking ahead to future years, you can almost set your watch by it. The event typically lands in the third or fourth week of August. For 2026, while the official schedule isn't out yet, history suggests Powell—or his successor—will likely take the stage on Friday, August 21, 2026.
Why does this specific time matter?
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Because the moment those remarks hit the wire, liquidity in the markets goes crazy. Algorithms scrape the text for words like "restrictive," "dovish," or "inflection point." If you're planning to trade that morning, you better have your coffee ready by 9:59 a.m. ET.
Why This Speech Is Different From a Normal Fed Meeting
You’ve seen the post-meeting press conferences. They’re formal. Powell sits behind a desk in D.C. and answers questions from reporters who are all trying to get him to slip up. Jackson Hole is... different. It’s outdoorsy. It’s at the Jackson Lake Lodge in Grand Teton National Park.
Powell isn't just talking about the next interest rate hike here. He’s usually defining a "framework."
- Long-term Strategy: This is where the Fed signals big shifts in how they think about inflation over years, not months.
- Legacy Building: Since Powell’s term is winding down (set to expire in May 2026), his 2025 speech was particularly focused on the "Framework Review."
- Global Signal: Central bankers from the ECB and the Bank of Japan are literally in the room. It’s a global stage.
What Happened During the Last Jackson Hole Appearance?
The August 22, 2025, speech was a bit of a nail-biter. Heading into it, the labor market was cooling down—hiring was getting a bit sluggish—but inflation was still being stubborn. Powell had to walk a tightrope. He basically signaled that while the Fed wasn't ready to declare "mission accomplished," the balance of risks had shifted.
He famously noted that "the labor market has cooled from its formerly overheated state." To the markets, that was a green light. It suggested that rate cuts were finally on the table for September.
But it wasn't all sunshine. Powell also had to navigate some intense political noise. With 2025 being a year of significant political friction between the White House and the Fed, Powell used his Jackson Hole platform to hammer home one point: the Fed's independence is non-negotiable. He stated clearly that policy decisions would be based "solely on the assessment of data." Sorta his way of saying, "Stay in your lane."
How to Watch or Read the Speech
If you're wondering how to catch the next one, you don't need a golden ticket to Wyoming.
- The Live Stream: The Kansas City Fed usually streams the opening remarks directly on their YouTube channel.
- The Transcript: The full text is released on the Federal Reserve’s official website (federalreserve.gov) the exact second he starts speaking.
- Financial News: CNBC, Bloomberg, and Reuters will have live blogs that break down the "hawkish" vs "dovish" sentiment in real-time.
Actionable Steps for Investors
Don't just watch the speech for fun. Use the timing to protect your portfolio.
Watch the 10-Year Treasury Yield. This often moves faster than the stock market the moment Powell starts talking. If yields spike, tech stocks usually take a hit.
Check the "Dot Plot" context. While Jackson Hole doesn't come with a new Dot Plot (the chart showing where Fed members think rates are going), the speech serves as a "vibe check" for the next FOMC meeting in September.
Prepare for Volatility. The hour before and the two hours after the speech are notoriously volatile. If you're a long-term investor, it might be a good day to just turn off the screen and go for a walk.
Review the Theme. Each year has a theme. In 2025, it was "Labor Markets in Transition." This tells you what the Fed is actually worried about. If the theme for 2026 shifts to "Fiscal Sustainability" or "AI Productivity," you should adjust your long-term thesis accordingly.