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Market Strategist Expects Stock Market to Drop 50% From Here, Says There’s ‘Going to Be No Middle Class Left’

Following Jerome Powell’s hawkish commentary at the annual Jackson Hole Economic Symposium, major stock indexes, cryptocurrencies, and precious metals slid significantly in value. Over $240 billion was erased from the…

Continue ReadingMarket Strategist Expects Stock Market to Drop 50% From Here, Says There’s ‘Going to Be No Middle Class Left’

Powell Says Fed’s Battle With Inflation Will Bring ‘Some Pain,’ After Insisting Last Year Elevated Inflation Is ‘Likely to Prove Temporary’

On Friday, Jerome Powell spoke at the annual Jackson Hole Economic Symposium and the Federal Reserve chair explained that the U.S. central bank is focused on fighting the country’s red-hot…

Continue ReadingPowell Says Fed’s Battle With Inflation Will Bring ‘Some Pain,’ After Insisting Last Year Elevated Inflation Is ‘Likely to Prove Temporary’