Japan's Nikkei down nearly 2% ahead of Powell's speech

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Asia Pacific

Japan's Nikkei down nearly 2% ahead of Powell's speech

Asia-Pacific markets are all trading in the red as investors prepare for signals on US monetary policy today. US Federal Reserve's chair Jerome Powell will be speaking later on today at the Jackson Hole meeting, and his speech is expected to be pivotal for markets. Since he took over the position in 2018, Powell has used his annual addresses at the Jackson Hole retreat to push policy agendas. With inflation retreating, and the economy still on solid ground, this speech could witness a marked shift in the direction of monetary policy.