Financial markets are bracing for what could be a ‘very hawkish’ Jackson Hole speech by Fed’s Powell
“Financial markets are bracing for Friday’s widely-anticipated Jackson Hole speech by Federal Reserve Jerome Powell and expecting that he’ll signal the continued need for aggressive interest-rate hikes to combat inflation despite the risks to economic growth.”
USAGOLD note: Not sure if there will be any market reaction worth noting. The press may be giving this speech way more attention than it deserves. The markets seem to believe that circumstances and events will dictate Fed policy, not the other way around. In a rapidly changing economic environment, what the Fed chair says now, may not reflect where he’ll be a month or two from now.