Federal Reserve Chairman Jerome Powell is in a tough spot, BobPisani writes. Here's why.
Federal Reserve Chairman Jerome Powell is in a tough spot. It's Friday, and all week there has been a build-up to his speech at the Fed's annual symposium in Jackson Hole, Wyoming. By this point, everyone is sick of listening to those who are trying to front run what he's going to say. Here's what I think the Street knows: 1.
If for example, he said he would support a 100 basis point rate hike in September, or if he said, "We are going to bring inflation down and we don't care if in the process of doing that we have the greatest recession since the 1930s." Stocks have indeed faltered in the last week as the market has focused on these fears. 5.
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