Goldman strategist Rich Privorotsky says markets may be overfocused on a Fed
speaker at Jackson Hole and underestimating oil's market impact. Transmission he
flags: oil prices ↓ → inflation expectations ↓ → consumer pressure eases →
long‑end US Treasury yields ↓ → equity valuation pressure eases → risk assets
benefit. He says Jackson Hole is unlikely to be a major event risk unless the
speaker materially departs from prior policy stance.
