Stocks sink as Fed Chair Jerome Powell promises 'forceful and rapid' action on inflation

[Scott]

 

US stocks plummeted on Friday following a warning from Federal Reserve Chair Jerome Powell that the central bank will not end its fight against rapid inflation anytime soon.  

Powell’s comments weighed on investors, who grappled with what more aggressive interest rate hikes might mean for the health of the economy. 

• The Dow closed down 1008 points, or 3%

https://www.cnn.com/business/live-news/stock-market-today-jackson-hole#h_c439d56513b6861a2243b67f53e3e98d

[John Drake]

Must pop the bubbles in the nasdaq, Dow, s&p, as well as in housing and the crypto ponzies.