Stocks slide, dollar rises as Powell spooks markets By Reuters

© Reuters. FILE PHOTO: Pedestrians wait to cross a road at a junction near a giant display of stock indexes in Shanghai, China August 3, 2022. REUTERS/Aly SongNEW YORK -An index of global stock markets fell, while short-term U.S. Treasury yields rose on Friday, after Federal Reserve Chair Jerome Powell said the U.S. economy will need tight monetary policy"for some time" before inflation is under control.

Tight monetary policy"for some time" means slower growth, a weaker job market and"some pain" for households and businesses, Powell said in a speech to the central banking conference in Jackson Hole, Wyoming. He did not hint at what the Fed might do at its upcoming Sept. 20-21 policy meeting. Officials are expected to approve either a 50- or 75-basis-point rate increase.

Obviously dollar index rising to 110 DXY $DXY Crypto

Inflation will rise and the depression will deepen, and raising interest rates will not address it

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European stocks slip on dour German sentiment survey ahead of Powell speechEuropean shares slipped on Friday as investors fretted over downbeat German consumer sentiment data due to rising energy costs and the path for U.S. interest rate hikes ahead of Federal Reserve Chair Jerome Powell's speech at Jackson Hole.
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »

Dow sheds 400 points, stocks drop after Fed's Powell warns of more pain from inflation fightU.S. stocks tumbled Friday to session lows after Federal Reserve Chairman Jerome Powell delivered blunt remarks on the pain the U.S. inflation fight likely... No that’s not the reason why! OPEC is still killing our economy because the “green” Democrats are liars and hypocrites who don’t work for American green energy but for OPEC who pay their salaries! Powell didn’t say anything we didn’t know 18 months ago! 🙄 It’s not done yet
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »