Fed Chair Jerome Powell's Comments At Jackson HolePosted By Rod Kaufman |
"Federal Reserve Chairman Jerome Powell spoke at the annual Jackson Hole Economic Symposium last week and strongly indicated that the US central bank would likely raise rates more aggressively than investors expected, and he said that American households can expect "some pain" ahead."
https://www.cnn.com/2022/08/29/success/investors-how-to-manage-stock-selloff/index.html
Investors are already feeling "the pain." It's evident Powell, Trump's pick, won't stop until he pushes the economy into a full blown recession probably before the November elections. This is the same guy who completely misjudged the initial inflation readings as "supply line" issues related solely to covid. I didn't hear any apologies for that during his eight minute speech. I think the only coming out of Jackson Hole should have been his resignation...
https://www.cnbc.com/2022/08/26/powell-warns-of-some-pain-ahead-as-fed-fights-to-lower-inflation.html
https://www.cnn.com/2022/08/29/success/investors-how-to-manage-stock-selloff/index.html
Investors are already feeling "the pain." It's evident Powell, Trump's pick, won't stop until he pushes the economy into a full blown recession probably before the November elections. This is the same guy who completely misjudged the initial inflation readings as "supply line" issues related solely to covid. I didn't hear any apologies for that during his eight minute speech. I think the only coming out of Jackson Hole should have been his resignation...
https://www.cnbc.com/2022/08/26/powell-warns-of-some-pain-ahead-as-fed-fights-to-lower-inflation.html