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Jackson Hole symposium: Central Bankers are hawkish

Simon Alagbe

Analyst

Central bankers spoke in one language at the recently concluded symposium as they reveal their preparedness to follow through with higher interest rates. Federal Reserve Chairman, Jerome Powell said that the bank will continue on its aggressive pathway and this could bring some pain to households and businesses in the US. One of the top Central bankers at the European Central Bank, Isabel Schnabel revealed that the ECB have only a little choice but to continue tightening even in the face of inflation worries. 

Powell in one of his interviews at the Symposium said that the central banks cannot abandon their fight against inflation halfway but will follow through until a sharper correction signal are visible down the road. 


What to expect?

The stock market will continue to shed gains as expectations of aggressive measures to control inflation garner more momentum and this will provide traders with the opportunity to consider sell setups in the market for perfect entries. 

The Greenback (USD) is a major beneficiary of the stance of the Central Bank and will continue to appreciate in value as the FED is obviously the most aggressive of all the major Central Banks and tend to set the pace for the rest. Trade setups supporting the bulls on the Greenback are advised! 

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