Wall Street Opens Higher On Upbeat Data
August 26, 2022
Class CNBC Interview 8/29/22
August 29, 2022Stocks on Wall Street not taking the cues from Federal Reserve’s Chairman Jerome Powell’s speech at Jackson Hole too well. All 3 major indices on wall street were struggling. Investors seem to be not too happy about the fact that Powell has reiterated that Fed will continue to raise rates to fight inflation. Powell also warned against ‘prematurely’ loosening policy. Saying that history has cautioned against this. He also said that the quantum of the next hike will hinge on the totality of the data. On India Tonight, ET Now’s Vikram Oza dives into Powell’s speech as we are joined by Peter Cardillo, Chief Market Economist, Spartan Capital Securities LLC, and Craig Erlam, Senior Market Analyst, OANDA…tune in!
