Jerome Powell is under pressure at the Jackson Hole Symposium this week. After the last Fed meeting, the Fed was perceived to have taken a ‘dovish pivot’ and that allowed the Nasdaq to move gradually higher. However, if Jerome Powell reaffirms a commitment to bring inflation down, despite slowing growth metrics, that can bring tech stocks sharply lower. Will Powell send a corrective message to markets and sink tech stocks?
The tech-dominated Nasdaq has a seasonally weaker period ahead that could assist any falls.
Major Trade Risks: The major risk is that Jerome Powell signals a more dovish approach from the Federal Reserve.
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