Time and money are largely interchangeable terms. - Winston S. Churchill

Finance

Abstracts from Powell's speech at the Jackson Hole Economic Symposium

Photo by José Martín Ramírez Carrasco / Unsplash

The Fed is prepared to raise rates further if necessary.
A restrictive policy is needed until inflation slows steadily.
We intend to keep rates at restrictive levels until inflation falls to 2 per cent.
We will proceed cautiously.
Inflation is falling more slowly than expected.

Fed swaps are pledging a 20% probability of a 25 bp rate hike in September.

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