Could Fed Chair Powell's Jackson Hole speech send stocks plunging again?

When Powell spoke this time last year at the Kansas City Fed symposium in Wyoming, he warned that interest rate hikes would mean “pain” for US households. The Dow Jones Industrial Average index sank 1,000 points in response. Will history repeat itself? At its most recent meeting in July, the Fed unanimously voted to raise interest rates to a range of 5.25-5.5%, their highest level in 22 years.

Macy’s sounds the alarm on credit card delinquencies Macy’s is warning of a spike in customers who are failing to make credit card payments, adding to the evidence of mounting financial stress on consumers, reports my colleague Matt Egan. The iconic department store had anticipated delinquencies would climb following a post-Covid lull. But Macy’s management has been caught off guard by the magnitude of the uptick.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How the Stock Market Performs After Jackson Hole, According to HistoryInvestors shouldn't expect a repeat of last year's performance if history is any guide.
Source: MarketWatch - 🏆 3. / 97 Read more »

Why this abstract concept could rattle stocks when Powell speaks at Jackson HoleInvestors and traders are looking for Federal Reserve Chairman Jerome Powell to address where he sees the neutral rate of interest during his speech on Friday.
Source: MarketWatch - 🏆 3. / 97 Read more »