The Federal Reserve is committed to bringing inflation down to 2%, according to Chairman Jerome Powell’s speech at the Jackson Hole Symposium. Despite some economists suggesting that achieving this target may be difficult, Powell reiterated that the Fed remains committed to the goal. The odds of a rate hike at the Fed’s next meeting in September rose to 19%, according to the CME FedWatch tool. Meanwhile, the odds of another hike this year rose to 52.1% – a two-month high. Rate cuts, which many expect will trigger more investment into crypto and stocks, are not expected until June 2024.
| Information |
Details |
| Geography |
North America |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
10 |
| People |
Jerome Powell, Paul Krugman |
| Companies |
Federal Reserve, CME FedWatch, New York Times, Binance, PrimeXBT |
| Currencies |
None |
| Securities |
None |
