U.S. Federal Reserve
Jackson Hol…d Up!
On Friday, at the Kansas City Federal Reserve’s Annual Policy Forum in Jackson Hole, Wyoming, Federal Reserve Chair, Jerome Powell, stated that the central bank will not be backing off in its fight against inflation. Chair Powell reiterated a tough stance on combatting inflation, causing investors to second guess whether the Federal Reserve will continue hiking rates beyond September and exceeding already lofty interest rate estimates. As a result of his speech, which was scheduled for 30 minutes but only lasted 8 minutes, all major indices declined more than 3% on the day with the S&P 500 declining 4% and the Nasdaq declining 4.2% on the week.


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