Investors expected Powell to confirm that the central bank would begin tapering soon. However, he did not share a specific agenda on the details of the tapering plan. Equity markets remain confident, however, as they are happy that the liquidity machine has been running for years.
Bears are defeated
In the match between bulls and bears, the latter have not had much luck for several months. Jerome Powell's speech at the Jackson Hole symposium last Friday did not seem to boost bear morale. The world's main indices are breaking new records almost every week, starting with the S&P 500, which is now at 4536 points.
Investors expected Powell to confirm that the central bank would begin tapering soon. However, he did not share a specific agenda on the details of the tapering plan. Equity markets remain confident, however, as they are happy that the liquidity machine has been running for years.