Federal Reserve Chair Jerome Powell Just Gave S&P 500 Investors Great News

In the days leading up to the annual Jackson Hole Economic Policy Symposium, all eyes were firmly on Federal Reserve Chair Jerome Powell and his speech on Friday, Aug. 22.All month, investors have been back and forth on whether the Fed will cut interest rates at its September meeting. At one point, the market seemed certain. Then the market started to let doubts creep in, as the economic data has collectively been hard to interpret. During his highly anticipated speech, Powell gave investors and the S&P 500 exactly what they wanted to hear.Powell and the Federal Open Market Committee (FOMC) have had a difficult task over the past few years in trying to rein in some of the highest levels of inflation in 40 years without tipping the economy into a severe recession, especially when you consider the velocity of interest rate hikes they implemented. Up until recently, the Fed appeared to be winning the war. The labor market has remained intact, and inflation has come down, potentially setting up a goldilocks landing.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool