Inflation's Harsh Reality On Display As Fed Officials Meet At Jackson Hole
Federal Reserve officials will meet in Grand Teton Park on Thursday. The gathering will take place near soaring housing prices, wide economic inequalities, and a problem with inflation.
On Friday, Fed Chair Jerome Powell will give a speech and he may signal how high or how fast the central bank will raise interest rates. The speech could cause sharp swings in the stock market.
The Fed is trying to stop inflation without causing a recession by slowing the rate of growth of the economy. That's a notoriously delicate act.
What Fed Watchers says?
Powell is unlikely to provide substantive information on what the Fed will do at its next meeting.
“I think that will be the message - we’re going to slow down at some point. We’re tightening, but don’t expect a quick shift to cuts,” said Gapen.