Jackson Hole 2022

[tsptalk]

Powell warns of ‘some pain’ ahead as the Fed fights to bring down inflation

Fed Chairman Jerome Powell on Friday pledged that the central bank will “use our tools forcefully” to attack inflation that is still running near its highest level in more than 40 years.

In his annual Jackson Hole policy speech, Powell added that higher interest rates likely will persist “for some time. The historical record cautions strongly against prematurely loosening policy.”

The remarks come amid signs that inflation may have peaked but is not showing any marked signs of decline. Powell said the Fed will not be swayed by a month or two of data.

https://www.cnbc.com/2022/08/26/pow...n-ahead-as-fed-fights-to-lower-inflation.html

 

[nasa1974]

And the Market drops like a rock.

 

[nasa1974]

How is this for a headline?

Powell’s 8-Minute Speech Erases $78 Billion From Richest Americans

(Bloomberg) -- In the span of just eight minutes, Federal Reserve Chair Jerome Powell sparked a market rout that slashed the fortunes of America’s richest people by $78 billion.

Powell’s 8-Minute Speech Erases $78 Billion From Richest Americans (msn.com)

 

[Bullitt]

It will be more than offset when those "Rich" people get their piece of the inflation reduction act subsidy pie through their direct ESG and EV private equity investments.