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Katherine Ross: How should investors approach Jackson Hole? Steve Skancke, chief economic advisor for Keel Point joins me. Steve, the July rate cut was kind of seen as a make it or break it moment in the markets. But is that really Jackson Hole?

Steve Skancke: Well, Jackson Hole gives him a lot more flexibility to think about what they really can do, and even some new ideas like the president of the Minneapolis Fed. We're saying we really need to try to roll out forward guidance in addition to the rate cut that they did at the end of July. So I think Jackson Hole will be very interesting.

Katherine Ross: What kind of language do you think that investors should be listening to from Powell at Jackson Hole?

Steve Skancke: That they are combed to keep rates low, not go back to a quantitative tightening, and to continue to recognize, the weakness in the economy as a result of the various things that are going on trade in particular.

Katherine Ross: How can investors protect their portfolio?

Steve Skancke: Well, I think, the best answer on that, Catherine is to have it diversified, number one, to make sure that they understand what their risk profile is, and not be waking up after the market's have an off day and wondering if they have too much risk in their portfolio.

Katherine Ross: All right. And of course, what is the first thing that investors should do after Powell speaks?

Steve Skancke: Probably have cash ready to invest.

Katherine Ross: That's the best kind of advice I can think of. Thank you.

Steve Skancke: You're most welcome. Thanks. Great to be with you.

Jackson Hole officially kicks off on Thursday, Aug. 22 and Friday, Aug. 23. 

As the annual symposium near Jackson Hole, Wyoming, gears up to kick-off, investors may be wondering: what should I do now?

Steve Skancke, chief economic advisor at Keel Point, sat down with TheStreet to talk about Jackson Hole and what investors should be keeping an eye on.

"Well, Jackson Hole gives him a lot more flexibility to think about what they really can do, and even some new ideas like the president of the Minneapolis Fed. We're saying we really need to try to roll out forward guidance in addition to the rate cut that they did at the end of July. So I think Jackson Hole will be very interesting," said Skancke.

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