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A rally that put stocks on the brink of all-time highs sputtered and bond yields rose as euphoria around Federal Reserve rate cuts eased just days ahead of a key inflation reading.
While Jerome Powell on Friday signaled a September rate cut is likely amid downside risks to the jobs market, doubts over the pace of those reductions lingered on Wall Street. In addition to officials remaining divided, traders are bracing for a not-so-friendly price reading later this week.
Jennifer Lee, Senior Economist and Managing Director, Economics with BMO Capital Markets, discusses her takeaways from from last week’s Jackson Hole Economic Symposium, and the continued uncertainty surrounding US trade policy. Jennifer speaks with Tim Stenovec and Norah Mulinda on Bloomberg Businessweek Daily. (Source: Bloomberg)