Why Jerome Powell's business-as-usual Jackson Hole speech was the best possible outcome
Chair Jerome Powell didn't make waves with his speech at the central bank's annual Jackson Hole symposium. That's exactly what markets, businesses, and unemployed Americans wanted.
"At the FOMC's recent July meeting, I was of the view, as were most participants, that if the economy evolved broadly as anticipated, it could be appropriate to start reducing the pace of asset purchases this year," Powell said Friday."We will be carefully assessing incoming data and the evolving risks.", with investors reassured that tapering won't begin any sooner than late 2021.
"The song remains the same," Ian Shepherdson, chief economist at Pantheon Macroeconomics said."We still think it's reasonable to expect the tapering announcement in November, but it could easily be delayed if the post-Delta rebound takes longer than we expect." To be sure, businesses are increasingly ready for the Fed to pull back. Fifty-two percent of the business community believes the Fed's monetary policy is"too stimulative," according to an August survey conducted by the. That's up from just 26% in March. Meanwhile, 47% said the Fed's stance was"about right" in August, down from 72% in March.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The fight over the Fed—will Jerome Powell get to see his bold agenda through?Our podcast on markets, the economy and business. Also this week: why construction firms cannot keep up with the rich world’s housing boom and the race for territory as American states legalise sports betting | Podcasts
Leer más »
Despite his shortcomings, Jerome Powell should be reappointed Fed chairmanIt is still unclear how history will view Jerome Powell’s first term at the Fed
Leer más »
Wall Street treading water ahead of key speech from Fed Chair Jerome PowellPowell faces looming inflation on one side and a resurgent pandemic on the other.
Leer más »
The Fed is about to wind down its emergency economic stimulus, Jerome Powell hintsFederal Reserve Chairman Jerome Powell Friday said that inflation is more or less under control, the economic recovery is continuing apace and it's time for the Fed to wind down its emergency economic stimulus program. But in his highly anticipated speech at the virtual Jackson Hole Symposium, Powell tempered his optimism with some words of caution: The Delta variant remains a looming threat to the US economy.
Leer más »
It's Black Breastfeeding Week—here's why that mattersIf you felt supported when you looked for breastfeeding help, have you ever considered whether that might be partially thanks to the colour of your skin?
Leer más »
Why Do Black, Hispanic Newborns Face Higher Health Risks?Differences in the quality of hospital care contribute to a higher chance of complications among Black and Hispanic newborns compared to white and Asian infants, a troubling new study finds.
Leer más »