Powell’s Warning at Jackson Hole Will Drive Bank of Canada’s Course, Says Economist
News Analysis
U.S. Federal Reserve chair Jerome Powell spoke bluntly at a highly anticipated annual conference to dispel the assumption that because elevated inflation may have peaked, the Fed could soon pivot from continuing to aggressively hike interest rates. Canada is in the same boat as the United States, and Powell’s words served as a reminder that the fight against inflation is far from over and some economic pain is in store.
Central bankers, finance officials, and academics from around the world gathered in Jackson Hole, Wyoming, from Aug. 25 to 27 for the yearly economic policy symposium where Powell got right to the point in a concise speech on Aug. 26….