Updated: Aug 30, 2022
I think Federal Reserve Chairman's speech from Jackson Hole was concise and clear in conveying their laser focus on bringing down inflation. Markets were perhaps hoping for a quicker timeline on Feds easing on this battle but instead they got a clear message that tightening is here to stay for some time and that the magnitude of future rate hikes will be determined by incoming data. That seemed to have triggered a sell-off and all three major US indices finished the day in deep red. I think that is also a red finish for second consecutive week.