Market Overview Analysis by Investing.com (Jesse Cohen) covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
In my view, Powell will strike a hawkish stance and hint that additional rate hikes will be needed to prevent a flare-up in. I also believe the Fed chief will use his keynote speech to signal that rates will stay higher for longer and push back against the idea of rate cuts.
Fast forward to today, and the economy has held up much better than expected, prompting several FOMC members to scrap their forecasts for a looming downturn. That saw the year-on-year rate increase by 4.4%, adding more fuel to a worrying inflation outlook that gives the Fed enough cushion to stay on its tightening path.“Labor market conditions broadly are going to be an important part of getting inflation back down and that's why we think we need some further softening in labor market conditions," Powell said at the Fed's post-meeting press conference last month.
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