{"id":61142,"date":"2022-08-26T18:41:26","date_gmt":"2022-08-27T01:41:26","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=61142"},"modified":"2024-09-07T08:27:40","modified_gmt":"2024-09-07T15:27:40","slug":"bears-push-bulls-down-the-jackson-hole-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2022\/08\/26\/bears-push-bulls-down-the-jackson-hole-the-market-breadth\/","title":{"rendered":"Bears Push Bulls Down the Jackson Hole – The Market Breadth"},"content":{"rendered":"\n

Stock Market Commentary<\/strong>: <\/h2>\n\n\n\n

Jerome Powell, and the Federal Reserve, remained resolute with the anti-inflation rhetoric. The stock market hated it. Slowing growth, recession fears, and hopes for “peak inflation” are still not producing the result Wall Street wants<\/a>: a Federal Reserve backing down from monetary tightening, also known as “the pivot.” The bears seized the opportunity in disappointment by pushing bulls down the Jackson Hole.<\/p>\n\n\n\n

In his remarks at the annual confab<\/a>, Powell did his best to make the Fed’s hawkishness abundantly clear: “Today, my remarks will be shorter, my focus narrower, and my message more direct…Restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy.” Powell went on to caution us that the work ahead will “bring some pain to households and businesses,” but such is the cost for longer-term price stability. For the “peak inflation” crowd, Powell warned that “high inflation has continued to spread through the economy.” There was nothing nice in Jackson Hole. The market’s accompanying plunge underlined the dour news.<\/p>\n\n\n\n

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