For economists and traders accustomed to watching charts, the jagged peaks of the Teton mountains possess greater than a passing resemblance to monetary pattern strains. Additionally they kind the backdrop to one of many 12 months’s most keenly awaited central-bank speeches: annual reflections by the chair of the Federal Reserve at a convention corridor in Jackson Gap, situated within the valley beneath the Teton vary. On August twenty third Jerome Powell didn’t disappoint. He made clear that having raised rates of interest as sharply as any of the slopes within the distance, the central financial institution was now prepared to start the descent.