Mission Not Accomplished

"Although inflation has moved down from its peak, it remains too high." - J. Powell

Summary: Jerome Powell spoke at the Fed’s Jackson Hole Conference last week and signaled that we still have a long way to go to get back to the Fed’s inflation target. While he views the Fed’s current policy as restrictive, inflation remains too high. Meanwhile, retailers reported results last week and gave a gloomy view of the consumer. Comps were weak…