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Private banks on what to expect after Powell’s speech rattles equity markets

Photo by JP Valery on Unsplash

US Federal Reserve chairman Jerome Powell’s hawkish speech at the Jackson Hole meeting on Friday night once again erased billions in the equity market, with the S&P 500 losing 3% after enjoying a brief market rally. Powell signalled there may be more rate hikes on the horizon. At each of its last two policy meetings, the Fed had raised interest…

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