Markets in Japan and Hong Kong are set to rise, while Australia’s markets look to fall.
Powell says 'economy may not be cooling as expected.' That's good news and bad newsannual address in Jackson Hole, Wyoming early Friday
On the other, yields have surged, pressuring not only growth stocks whose future earnings are discounted at the risk-free Treasury rate, but indebted companies that have to roll over their obligations at higher rates. "I'm uncomfortable with declaring victory when it's clearly not victory," Goolsbee said."We stated before we got into this what the target was going to be. I just don't feel like you can change your inflation target until you hit it that."
A nonvoting member of the rate-setting Federal Open Market Committee, Mester has been one of the more hawkish Fed officials, meaning she prefers tighter policy and higher rates, at least as long as inflation holds above the central bank's 2% target. In June, she penciled in two rate hikes this, one of which already has happened.
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