Jackson Hole Points to Hard Road Ahead for Powell; Wall Street Awaits Nvidia Earnings

On today's podcast: 1) The Federal Reserve's Jackson Hole symposium was a tense affair, with Chair Jerome Powell signaling an interest-rate cut as soon as the next policy meeting in September, despite clear divisions among policymakers.2) Traders are breathing easier heading into this week after Federal Reserve Chair Jerome Powell indicated that interest rate cuts are coming. The next test for the stock market will be a read on what’s been driving gains for the past few years: artificial intelligence euphoria.3) SpaceX delayed a critical test flight of its massive Starship rocket roughly half an hour before liftoff on Sunday, saying it needed to troubleshoot an unspecified problem with its ground systems. See omnystudio.com/listener for privacy information.