Stocks Analysis by Investing.com (Jesse Cohen) covering: Nasdaq 100, S&P 500, Dow Jones Industrial Average, SPDR® Dow Jones Industrial Average ETF Trust. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
CPI peaked at a 40-year high of 9.1% last summer and has been on a steady downtrend since, however, prices are still rising at a pace far more quickly than the 2% rate the Fed considers healthy.
Therefore, I hold the opinion that the current environment is not indicative of a Fed that will need to pivot on policy, and there is still a long way to go before policymakers are ready to declare a mission accomplished on the inflation front.The Federal Reserve — which has hiked interest rates in 11 of its last 12 meetings — is scheduled to deliver its September policy decision at 2:00 PM ET on Wednesday, September 20.
Powell, in a speech at an economic summit in Jackson Hole, Wyoming last week, said policymakers would"proceed carefully as we decide whether to tighten further," but also made clear that the central bank has not yet concluded that its benchmark interest rate is high enough to be sure that inflation returns to the 2% target.
In addition, I believe Powell will stick to his hawkish stance in the post-meeting press conference and repeat his message from Jackson Hole that there is still more work for the Fed to do to cool inflation.
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