Reply To: Fed’s Powell at Jackson Hole; Inflation: Progress and the Path Ahead, the Market Response

#42580
Truman
Participant

The stock market has been volatile since Fed Chair Powell’s speech. There was a knee-jerk sell off, followed by a bounce and then another sell off.

The speech itself left an impression that the Fed is not entertaining the notion of a pivot to a rate-cut cycle anytime soon. Notably, Mr. Powell acknowledged that efforts to reduce inflation “will also bring some pain to households and businesses” but that failing to restore price stability would mean far greater pain.