美联储内部分歧严重，若鲍威尔要“转鸽”，那“杰克逊霍尔”是最佳时机

Core Viewpoint - The Federal Reserve is experiencing increasing internal divisions, with market expectations that Chairman Powell will provide clear signals at the upcoming Jackson Hole Global Central Bank Conference [1][3]. Group 1: Federal Reserve's Internal Divisions - Following the July employment report, the Federal Reserve ended its quiet period, with multiple officials speaking out, indicating a clear division between hawkish and dovish camps [2]. - The dovish camp, represented by officials like New York Fed President Williams, is more concerned about inflation, while the hawkish camp, including Minneapolis Fed President Kashkari, is focused on economic downturn risks and labor market slowdown, suggesting a potential for rate cuts [2]. Group 2: Powell's Influence and Upcoming Conference - Despite the evident divisions within the Federal Reserve, Powell's communication remains overwhelmingly influential, as demonstrated by a recent 9:2 voting outcome [3]. - The Jackson Hole conference is historically significant for Powell to announce major policy shifts, with the potential for a shift in focus from combating inflation to prioritizing full employment [4].