Today, Powell gave a talk at a major yearly event, the Jackson Hole conference. Last year, he promised to tackle inflation, and it had a big impact on the market. This year, he took a more middle-ground approach, saying he would wait and see before taking further actions.
The market had a roller-coaster day, with prices going up, then down, and then up again. The QQQ, a major market indicator, rose by 0.78%. But considering its big drop yesterday, today's rise isn't ...