Jackson Hole, Powell and Markets
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The annual economics symposium that begins Thursday brings together top monetary policy officials from around the world, and always makes headlines in the financial press. This year, there are at least three reasons the conference is worth paying attention to.
Some market participants will have in their minds Powell’s Jackson Hole comments in 2022, when the Fed Chair delivered what Emanuel calls his stern inflation-is-job #1-and-we-are-just-going-to-keep-hiking speech. Stocks did not react well to that.
The Nasdaq and S&P 500 slid on Tuesday driven by tech stocks, as investors gear up for what Federal Reserve chair Jerome Powell will say about the path of interest rates at a key conference later in the week.