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Key Takeaways
- Jerome Powell has given his speech at the Fed’s annual conference in Jackson Hole, Wyoming
- He’s stated that they remain committed to bringing inflation down to 2%, meaning that more rate hikes could be on the way
- Markets were surprisingly positive on the comments, with the S&P 500, Dow and Nasdaq Composite all gaining strongly on Friday
Fed chairman Jerome Powell (also known as Jay), has probably never had so many people so interested in his every word. Sure, as the head of the Federal Reserve, Wall Street is always trying to glean clues from his speeches and comments, but the past couple of years has seen a bigger focus on interest than we’ve seen in decades.
Simply put, it’s because the scale of the problem of inflation has been higher than we’ve seen in decades.
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