Jackson Hole: Without inflationary pressures on the horizon

Joachim Fels, Morgan Stanley’s Chief Global Economist, insists that Yellen, Draghi and Kuroda will continue to support macro data. “The thesis that we are in one of the longest recovery cycles of history continues.”

Specifically, Morgan Stanley analysts expect a message more “dovish” for Jackson Hole on Thursday. “The ECB has again consider new stimulus measures after the recent GDP data in the Eurozone (+0.1% vs +0.3% in 2Q) and Kuroda should announce a new easing program in October.”

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