Hawkish Powell keeps 0.75% hike option open for september

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www.cnbc.com/2022/08/25/stock-market-futures-open-to-close-news.html

Here the most important remarks Powell just made at Jackson Hole. Hope this helps.

In his speech Powell mentioned that 75 basis points remains an option for the FOMC september meeting. This is higher than the anticipated 50 bps.

Overall Fed will keep raising untill inflation is under control and referred to historic times where this failed.

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Powell also indicated Fed will keep rates high in the longterm to counter speculation Fed would start cutting in 2023.

See also  The Fed bought up $2.7 trillion in toxic waste mortgage backed securities to reinflate the housing bubble and take those bad loans off the books of its Wall Street bankster accomplices. Next up: Powell will let the banksters transfer their non-performing commercial real estate loans to the Fed.

He also indicated raising rates will hurt economy and households “to some extend”.

Seems Fed doesn’t want to repeat mistakes of the past and remain hawkish so not so good news for the stock and bond market.

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