Wall Street Reacts to Powell: ‘Very Clear Pushback’ on 2023 Fed Pivot
- ‘Short and straight to the point’: Brown Brothers’ Win Thin
- ‘Bottom line: rates need to keep going up,’ said BNY’s Jolly
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Federal Reserve Chair Jerome Powell’s message to investors was short and blunt: The central bank will likely keep raising interest rates and leave them elevated for some time to battle inflation.
In a speech of less than 10 minutes delivered at the Kansas City Fed’s annual policy forum in Jackson Hole, Wyoming, Powell warned that “restoring price stability will likely require maintaining a restrictive policy stance for some time.”