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A quick recap from Jerome Powell's speech from Kansas City, in Jackson Hole, Wyoming.

The speech was watchable and we can also find the full remarks on the web. I first used artificial intelligence to process the points for me. I don't think there is anyway to read sentence by sentence, which as always are conducted in a rather diplomatic manner.

- Federal Reserve (Fed) chief Jerome Powell has called for greater vigilance in the fight against inflation and although inflation has fallen, it is still too high. He hinted at the possibility of further interest rate hikes to ensure a sustainable decline in inflation.

- He acknowledged progress, but also warned that inflation remains above what policymakers consider comfortable. The economy should proceed with caution because the risks are mutual. Too much and too little action could have negative consequences.

- Powell stressed that interest rates will remain restrictive until a sustainable decline in inflation toward the Fed's target is achieved. He is keeping his inflation target at 2% and does not intend to raise it.

- The published data indicated that almost all FOMC officials are likely to see further interest rate hikes. Powell did not indicate a rate cut, but stressed the need to proceed cautiously and respond to evolving data and risks. He warned of the risks of strong economic growth during an expected recession and the need to hold interest rates higher accordingly.

- He divided inflation into three metrics and the most closely watched is core inflation, which excludes volatile food and energy prices. Based on the inflation data, the Fed will decide how to proceed. Finally, he emphasized that economic growth may have to slow before the Fed changes its policy course.

So as we see folks, the news kind of, well, I don't want to say nothing, but I don't think it's surprising to many of us who follow the markets either. Feel free to post how you feel about this, I'll look forward to it and have a great weekend everyone. 😊🍀


We will probably still see an increase in interest rates. Powell won't rest until inflation gets to 2% :D

Agreed.😊I'm expecting it again this year for sure. I have about 30% cash so I'm ready for it.

The question is whether the next rate hike will lead to any decline 🤔

I don't have much cash at the moment, but hopefully I'll save some cash by then😁.

Just get them to raise it more. 😉

I think I definitely will again this year and as you say, like why not, there will be shopping at least. I'm hoping to keep the green year but personally I have about 30% cash and would love to use it. 😊

That's a nice amount, it's good to be prepared. For me it's about 25%.

I'm not too wise about it, it seems to me that there may be a rate increase :D

It certainly can, on the contrary, I personally think that one will come for sure this year. The Fed is not happy and other Fed officials in other countries think so too. They just stand firmly behind the 2%

I guess it will be :)

I was looking at the 5-minute chart. Around 4:30pm, when Powell spoke, I had a feeling the chart was stuck. It was going so fast, the candles weren't even drawing. 😂😂😂

Yeah, well, I didn't follow it directly, but I believe it was volatile, so in the end the day ended well and in the black, but there wasn't much to go on anyway, as always, it will just be a gradual progression as the data comes in. 😂