Jackson Hole, Fed and Gold
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The Federal Reserve chairman is under bombardment from Donald Trump and battling an insurgency within the central bank as he heads to Jackson Hole.
Stocks start the week just shy of record highs, underpinned by a well-received corporate earnings season and hopes the Federal Reserve will soon start reducing official borrowing costs again. Investors are therefore keen that Friday’s keynote address by Fed Chair Jerome Powell at the Jackson Hole symposium will be suitably dovish.
The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole Economic Policy Symposium on Friday is being billed as a pivotal, "make-or-break" moment for the central bank's more dovish contingent.
The Nasdaq fell as megacaps lost, after having rallied for much of the year. Nvidia fell 3.5%, the biggest drop in nearly four months.
Jerome Powell has the ideal platform Friday to deliver a clear signal the Federal Reserve is about to resume cutting interest rates. But the economy isn’t giving him an equally clear signal that now is the time.
1don MSN
Powell has used Jackson Hole to battle inflation and buoy jobs; he's now caught between both
Incoming information has confounded Fed Chair Jerome Powell's data-dependent strategy by pulling in both directions.
In a note to clients Thursday, Wolfe Research analysts warned that Federal Reserve Chair Jerome Powell could deliver a hawkish message at next week’s Jackson Hole Symposium, potentially unsettling equity markets.