Random Gleanings: Goin' to Jackson
In the 1967 Johnny Cash country romp, Jackson, June Carter dares Johnny to “Go play your hand you big-talkin’ man”. Markets are currently daring Jay Powell to do the same in Jackson (Hole, WY) this week. Carter’s dare though comes with a prediction for her “big-talkin” husband when she follows with, “Make a big fool of yourself.”
Jay Powell is unlikely to make a big fool of himself in Friday’s comments, but he will be walking a tightrope of communicating a desire to stay hawkish on the inflation fight while not too hawkish so as to push the economy into certain and difficult recession.
This week, Chris & Jesse offer some thoughts on Jackson Hole, the slowdown in housing, the effects of Dollar strengthening (and eventual opportunity (?) of dollar weakening), and the inflationary effect on tailgating to help you prep your menu before football starts!
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