A week of quiet standstill in benchmark commodity prices may end in fireworks as all eyes turn to the Fed’s economic symposium in Jackson Hole, Wyoming. The gathering has served as a launchpad for major policy initiatives by global central banks before, and markets appear primed for another key inflection point. At issue is the gaping disparity between the outlook favored by the FOMC and the one envisioned by investors. The rate-setting committee has called its July rate cut a “mid-cycle adjustment”, guiding markets away from expectations of a lasting easing cycle. Traders bet on 50-75bps in further cuts all the same ... (full story)