All eyes will be on Federal Reserve Chair Jerome Powell when he delivers the keynote speech at the central bank’s summer symposium in Jackson Hole, Wyoming, on Friday.Just one year ago, when Powell spoke during this same time, he sent the stock market careening with warnings of economic “pain” that might result from the Fed’s relentless fight against inflation.”While higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” he said. “These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain.”Instead, inflation has shown mostly steady signs of declining, falling from a peak of 9.1% to 3.2% over the past year – even as the labor market has remained surprisingly resilient.
Fed’s Powell may open the door to another rate hike in Jackson Hole speech | Fox Business
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