Loading ...Powell is under pressure by the usual over paid inflation clueless who never had real jobs in the real world but he presses on that his decisions are not political. I’m sure that could be argued by his pros and cons but has been steadfast when he sees a conversation heading in that direction. Common sense like Mr Copper mentioned combined with the sudden slowing of upward momentum and just hope we’re not nearing the first top of a roller coaster ride BTW do you know CPR just in case, says watch out.
If it does perhaps it won’t have too much effect with the September meeting soon following or perhaps hopeful thinking. Then we have the SM, if it drops too far in expected August market doldrums especially with one small group of stocks holding it up. Perhaps wall streets way of putting pressure on the Fed and look at some of the big players in the market. They’re not exactly thinking about best interest of this country.
So your guess is as good as mine.
I watched a bit of Powell the other day and he said Jackson Hole the people who attend pay people to write up their papers, argue in the morning and go hiking in the afternoon.
When asked if people try to get any information from them he said he doesn’t even go out to eat anymore. If he does they have to get a room so he mostly doesn’t go out to restaurants. I wonder if wall street hires people to follow them.
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