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Jackson Hole: A speech that can act as a preamble for central banks

The responsibility of central bankers to deliver price stability is unconditional.

August 29, 2022 / 11:41 AM IST
Jackson Hole: A speech that can act as a preamble for central banks

United States Federal Reserve building (File Image)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Jerome Powell’s speech at the Jackson Hole symposium late last week  focused on removing any ambiguity on Fed’s priorities about fighting inflation. The July meet had given an impression about #Fedpivot, that a large part of the monetary tightening in terms of rate hikes is over. As a result, broader equity indices climbed up 10-14 percent post the meet, before softening recently. Powell this time emphasised that though current policy rates are closer to long-run estimates of neutral rates, given...

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