Market Snapshot: Fed’s Powell sparked a 1,000-point rout in the Dow. Here’s what investors should do next.

by | Aug 29, 2022 | Stock Market

Now might be the time to consider hiding out in short-dated Treasurys or corporate bonds and other defensive parts of the stock market. On Friday, Federal Reserve Chairman Jerome Powell talked of a willingness to inflict “some pain” on households and businesses in an unusually blunt Jackson Hole speech that hinted at a 1970s-style inflation debacle, unless the central bank can rein in sizzling price gains running near the highest levels in four decades.

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