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

Fed Chairman Powell’s speech from the Jackson Hole Symposium in Wyoming on Friday offered little new but those hoping so were disappointed. The Fed Chairman reiterated that the Federal Reserve is prepared for more rate hikes, though he cautioned they are in a position to “proceed carefully” when it comes to assessing incoming data. Powell acknowledged that the economy has not been cooling as expected, which could be viewed as a signal that more rate hikes are to come, or … Continue reading “Fed’s Powell at Jackson Hole; Inflation: Progress and the Path Ahead, the Market Response”

What to Expect as Stocks and Bonds Ride High Ahead of Powell and ECB Speakers at Jackson Hole

The S&P, Dow and Nasdaq indices all pushed to new session highs ahead of Jerome Powell’s speech at Jackson Hole, Wyoming set for Friday at 10:00 a.m. ET.  Two ECB appearances are expected. Isabel Schnabel and Francois Villeroy will appear on a panel on the “outlook for policy post-pandemic.” We discuss the key points and agendas that markets will react to. Today a combination of short covering and hopes of a measured rate-hike path fueled the buying. The positive bias … Continue reading “What to Expect as Stocks and Bonds Ride High Ahead of Powell and ECB Speakers at Jackson Hole”