{"id":210889,"date":"2024-08-23T10:00:04","date_gmt":"2024-08-23T14:00:04","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=210889"},"modified":"2024-08-26T03:31:44","modified_gmt":"2024-08-26T07:31:44","slug":"market-strategist-urges-jerome-powell-to-separate-fed-from-the-stock-market-ahead-of-jackson-hole-speech","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/market-strategist-urges-jerome-powell-to-separate-fed-from-the-stock-market-ahead-of-jackson-hole-speech\/","title":{"rendered":"Market Strategist Urges Jerome Powell To &#8216;Separate Fed From The Stock Market&#8217; Ahead Of Jackson Hole Speech"},"content":{"rendered":"\n<p><br><strong>MetLife Investment Management\u2019s<\/strong>\u00a0chief market strategist,\u00a0<strong>Drew Matus<\/strong>, has urged Federal Reserve Chair\u00a0<strong>Jerome<\/strong>\u00a0<strong>Powell<\/strong>\u00a0to disentangle the Fed\u2019s actions from the stock market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-happened\"><strong>What Happened<\/strong>: <\/h2>\n\n\n\n<p>Matus pointed out that the Fed\u2019s current strategy is flawed as it appears to be excessively swayed by the stock market\u2019s performance. He contended that the Fed\u2019s decisions should not be influenced by the unemployment rate exceeding 4%, or by the easing of financial conditions.<br>\u201cWhat he needs is separate the Fed from the stock market and really just kind of say, \u2018hey look\u2026we think we are winning the war on inflation, the unemployment rate is going to continue to move higher in coming months and that will put the downward pressure on inflation. So we\u2019ve got this,\u201d Matus said on Friday during CNBC\u2019s \u201cMarket Alert.\u201d<\/p>\n\n\n\n<p>Matus stressed that Powell needs to explain why a few rate cuts will aid in the battle against inflation and persuade people to discard the notion of hundreds of basis points cuts in the next six months. He proposed that the Fed should concentrate on winning the inflation war and managing the rising unemployment rate, which will naturally suppress inflation.<\/p>\n\n\n\n<p>Matus\u2019s remarks come before Powell\u2019s scheduled appearance at the Jackson Hole symposium, where he is anticipated to address the Fed\u2019s fight against inflation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-it-matters\"><strong>Why It Matters<\/strong>: <\/h2>\n\n\n\n<p>The market has been speculating about Powell\u2019s upcoming speech at the<a href=\"https:\/\/www.benzinga.com\/news\/earnings\/24\/08\/40524309\/us-stocks-eye-strong-start-as-traders-discount-dovish-comments-from-jerome-powell-at-jackson-hole-n\" target=\"_blank\" rel=\"noreferrer noopener\">\u00a0Jackson Hole symposium<\/a>. Traders are expecting Powell to confirm a rate cut. However, renowned market analyst\u00a0<strong>Peter Boockvar<\/strong>\u00a0believes that Powell will only acknowledge a\u00a0<a href=\"https:\/\/www.benzinga.com\/analyst-ratings\/analyst-color\/24\/08\/40524164\/nvidia-earnings-more-important-than-jerome-powells-jackson-hole-speech-for-wall-str\" target=\"_blank\" rel=\"noreferrer noopener\">September rate cut<\/a>\u00a0based on employment data, not the inflation rate.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted August 23, 2024 &#8211; <a href=\"https:\/\/www.benzinga.com\/analyst-ratings\/analyst-color\/24\/08\/40527022\/market-strategist-urges-jerome-powell-to-separate-fed-from-the-stock-market-ahead-o\">Market Strategist Urges Jerome Powell To &#8216;Separate Fed From The Stock Market&#8217; Ahead Of Jackson Hole Speech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MetLife Investment Management\u2019s chief market strategist, Drew Matus, has urged Federal Reserve Chair Jerome Powell to disentangle the Fed\u2019s actions from the stock market.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,22,26,3],"tags":[77,8295,4109],"contributors-categories":[13584],"class_list":{"0":"post-210889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-stocks","11":"category-text-articles","12":"category-traders-insight","13":"tag-fed","14":"tag-jackson-hole","15":"tag-stock-market","16":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ 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