Stock Market Analysis - August 2024
Stock Market Analysis - iFAST US Fed Chair Powell gave a clear signal of a rate cut at the Jackson Hole meeting, making a September rate cut almost certain. In his speech, Powell focused on the labor market, noting that the risks to U.S. employment have increased. He said the Fed does not want or welcome further cooling of the job market, and it's time to adjust policy. While continuing to work towards price stability, the Fed will do everything it can to support a strong labor market. On inflation, Powell said that the risk of rising inflation has decreased and expressed stronger confidence that inflation will fall back to the 2% target. His comments on Friday nearly marked the end of the Fed’s historic fight against inflation. This indicates that the Fed is ready to cut rates and that its monetary policy has shifted from just fighting inflation to balancing both inflation and employment stability. Powell mentioned in his speech that the chances of the U.S. achieving a soft la...