LIVE: Federal Reserve Chair Jerome Powell speaks at Jackson Hole — 8/25/23
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Federal Reserve Chairman Jerome Powell delivers remarks at the Federal Reserve's annual symposium in Jackson Hole, WY on Friday. Since he took over the chair’s position at the Federal Reserve in 2018, Powell has used his annual addresses at the Jackson Hole, Wyoming, retreat to push policy agendas that have run from one end of the policy playing field to the other. In this year’s iteration, many expect the central bank leader to change his stance so that he hits the ball pretty much down the middle. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC #cnbctv LIVE: Federal Reserve Chair Jerome Powell speaks at Jackson Hole — 8/25/23

Just quick tl;dw notes for my ADHD homies:

  • reiterates goal of 2% inflation, will not change that target;

  • inflation coming down from its peak a “welcome development”, remains “too high” however;

  • “prepared to raise rates further if appropriate”;

  • “above trend growth could warrant more rate hikes”;

  • intends to “hold policy at a restrictive level” until they reach their inflation goal;

  • maintains his view that the currently high inflation emerged from a mix of strong demand and pandemic-constrained supply and considers Russia’s invasion of Ukraine to be also a contributor to inflation;

  • sees core PCE for July at 4.3%, “two months of good data are only the beginning”, 12 month core inflation “still elevated”;

  • “will proceed carefully on whether to hike again”.

$QQQ is right now down 0.51%.