Markets brace for Jerome Powell’s Jackson Hole pronouncement

The view from the lodge at Jackson Hole, Wyoming, where global central bankers meet every year. (Image: Getty)

Thu, 25 Aug 2022

By Lu Wang No one knows for sure what US Federal Reserve chair Jerome Powell will say in his speech on monetary policy on Friday. One thing is clear, though: the potential for marketwide shock is sky-high. Stocks, bonds, commodities – everything is moving in lockstep, their unified swings turning almost exclusively on views as to whether the central bank will cause a recession.The obsession with economic data and remarks by Fed officials has driven a measure of cross-asset correlation tracked by Barclays to almost double, p...

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