Here’s what Wall Street expects from Jerome Powell at Jackson Hole

• Fed chief Jerome Powell is scheduled to speak Friday at Jackson Hole, Wyoming. 
• Markets will be hanging on his every word, and Wall Street expects him to focus on inflation and interest rates.
• Inflation has cooled from a year ago, the job market remains tight, and economists have lowered their near-term recession odds.

Jerome Powell will likely move markets when he speaks at Jackson Hole, Wyoming, on Friday and Wall Street will be listening for several key sound bites as the chief central banker gives his outlook for inflation and the economy. 

At the same speech a year ago, Powell said inflation was too high, and that the Fed wouldn’t stop hiking rates until prices cooled to target.