Fed Chief Powell ‘did what he had to do’ in Jackson Hole, says Larry Summers

“ “The Fed is positioned as well as it can be – given the credibility losses and mistakes that have been made – with these remarks to handle things going forward.” ” —Larry Summers On Friday, former US Treasury Secretary Lawrence Summers praised the Federal Reserve, saying Fed Chief Jerome Powell’s latest pledge to contain … Read more

‘There is no pivot from the Fed’: Wall Street finally gets the message as stocks slump after Powell speech

Federal Reserve Chairman Jerome Powell’s brief but candid speech in Jackson Hole on Friday sparked a sharp sell-off in stocks and other financial assets as Wall Street reacted to his vow to bring inflation down central bank’s 2% target. The S&P 500 SPX, -3.37% finished 141.46 points lower, or 3.4%, at 4,057.74. The Dow Jones … Read more

Gold price and silver price explode ahead of Jackson Hole, here’s what to expect from Powell’s speech

(Kitco News) After a poor start to the week, the precious metals sector is rebounding as markets continue to calibrate for Federal Reserve Chairman Jerome Powell’s keynote address at the Jackson Hole symposium. Gold and silver rallied impressively on Tuesday as the US dollar index retreated from 20-year highs and bargain hunters arrived after last … Read more

Was the Fed’s Powell dovish or not? 4 key points from Wednesday’s press conference

Investors reacted as if Fed Chairman Jerome Powell’s Wednesday press conference was dovish, but many economists believe it was on the hawkish side of the street. Here are some of the key takeaways from Powell’s hour-long discussion with reporters about the state of the economy and central bank policy: Lily: Fed raises rates to tackle … Read more