Powell still Hawkish Not as bad as last years speech in regards to the sell off but, still disappointing.
Federal Reserve Chair Jerome Powell took a hawkish tone in his speech at Jackson Hole, noting that while inflation has tumbled in recent months, it isn’t yet at an acceptable level. Officials at the central bank are prepared to do whatever it takes to bring the rate down to the 2% target, he said.
“Although inflation has moved down from its peak—a welcome development—it remains too high, Powell said Friday.