Posted on 08/26/2022 8:05:26 AM PDT by John W
Stocks fell sharply Friday after Federal Reserve Chair Jerome Powell said he will continue to raise rates to fight inflation in his Jackson Hole speech.
The Dow Jones Industrial Average dropped 407 points, or 1.22%. The S&P 500 fell 1.5% and the Nasdaq Composite slid 1.84%.
Those moves come after a hawkish speech out of the Fed chair as Wall Street sought information on the pace of future interest rate hikes.
"Restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy," Powell said.
"It was fine. It was hawkish enough, but it wasn't over the top," said Wells Fargo's Michael Schumacher. "There was expectations for a very hawkish speech so it's hard to measure up to that."
(Excerpt) Read more at stocks.apple.com ...
Well, in my view the market reaction is good for America.
The averages have crept up. The rise could be Democrat election fodder
Better at election time that the averages still be depressed. There must continue to be a generally bad feeling
Anyone seen interest rates for savings account raise yet?
I have 3 accounts that have gone from .5% to 1.7-1.8% so yes, bank rates have risen a lot and will rise more. Just remember that bank rates never rise to the rate of inflation, they follow it up while staying below it. Bank accounts aren’t investments, they are parking places while you look for investments. I moved almost half my cash into Treasury bonds 3 months ago and I’m laddering them. Higher return than the banks and no taxes.
This market is going nowhere in the next few months, except sideways or down.
The Fed giveth. The Fed taketh away. May the name of the Fed be shamed.
That’s part of it. The people so happy about student debt relief are foolishly unaware it will have ramifications that eat them up.
Hey, look on the bright side.
At least we will not be freezing in the dark this winter like the Europeans.
(S)
Actually, a good idea. Better than what he is trying to do.
When is the next FED interest hike scheduled for?
The Fed CAN NOT fix Biden’s Marxist Economic Policy!!!!!
.
Anyone seen interest rates for savings account raise yet?
“Are the American people really that vapid and stupid?”
Of course they are…it’s very difficult to achieve a fascist society out of a rich country like America was till the end of the last century. The people have to be stupid enough to become willing peasants and freely give up their own prosperity.
Resulting in a big jump in unemployment and possibly deep recession.
The Layoff Tsunami Has Begun: 50% Of U.S. Companies Plan To Eliminate ... jobs within the next 12 months.
But, but, but... this can’t be true. The Biden people said that their gazillion-dollar student loan bailout is DEflationary.
Day traders must be doing OK. Just buy on Mondays and sell on Wednesdays.
More Biden finger prints
The difficult to avoid hourly 3 minutes news on Fox Radio reported Thursday that stocks went up 300 points or something. The woman reading the news was excited, breathless and gushing with happiness as if she had read “miners rescued and all are alive.”
I want the economy to crash BEFORE the election.
Not “love those lower gas prices? And inflation going down? Millions now agree and they love President Biden as he soars to record popularity just before midterms tomorrow.”
Conversely, Bond Ladders are coming back in style after long after the Bernake Twist almost made the irrelevant.
DOW now -756.
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