The overhang of Fed Chair Powell’s Jackson Hole speech the previous week carried over into last week as investors recalibrated stock valuations amid a seemingly more assertive monetary policy stance.
Stocks turned in a mixed performance last week as investors struggled with headlines suggesting that the Fed was unlikely to soon ease up on its current monetary tightening policy.
A record-high inflation report, the prospects of a more aggressive Fed, and growing recession fears sent stocks lower– though losses were pared by a Friday rally.