Weekly Update

After Fed Inflation Policy Speech, Stocks Closed At New Record High

Published Friday, August 27, 2021 at: 7:10 PM EDT

Federal Reserve Chairman Jerome Powell today said the United States has made progress in managing inflation as well as employment, marking the start of a new phase in the central bank’s policy for achieving its dual mandate of full employment and price stability. “We have said that we would continue our asset purchases at the current pace until we see substantial further progress toward our maximum employment and price stability goals, measured since last December, when we first articulated this guidance,” Mr. Powell said. “My view is that the ‘substantial further progress’ test has been met for inflation.” Before today’s speech, Mr....

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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