President Joe Biden and Federal Reserve Chairman Jerome Powell next week will offer up some insights about the state of the economy and market.
What’s the state of the market? That’s what many on Wall Street want to know, amid a continuing war in Eastern Europe, doggedly high inflation, stomach-churning volatility in stocks and other assets, and a Federal Reserve that is slowly draining Wall Street’s punchbowl of easy money.
There are likely quite a number of investors who would agree with Bassuk, as President Joe Biden on Tuesday is set to deliver what some are referring to as one of the most important such addresses to the nation in recent memory, with inflation at a 40-year high and the COVID-19 pandemic lingering. — Thomas Martin On top of that, shades of Cold War-era tensions are emerging with Russia’s long-feared siege of Ukraine stretching into the weekend and putting major cities at risk.
And it isn’t just Biden on display next week, Federal Reserve Chairman Jerome Powell will deliver scheduled testimony to Congress on Wednesday and Thursday on monetary policy. It is worth noting that Biden’s speech comes as his approval rating is around its low of 40% and his disapproval rating is near its high, as average Americans feel the sting of higher prices on goods and services.
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