More pain ahead for markets after Fed chairman Powell’s stark warning

SINGAPORE – Federal Reserve chairman Jerome Powell’s tough talk of inflicting “some pain” on households and businesses in order to bring down stubbornly high inflation had its intended impact on the markets last Friday (Aug 26).

The huge thud heard from Wall Street is likely to reverberate through global markets this week as stock investors flee to the sidelines amid the prospect of a 75 basis point hike in the key Fed funds rate next month.

source https://eastmud.com/latest-news/more-pain-ahead-for-markets-after-fed-chairman-powells-stark-warning/