ISAAH MHLANGA: Messages from the Fed pertinent to SA’s economy
However, this will not eliminate inequality or poverty
Global central bankers attended their annual Jackson Hole Economic Symposium, hosted by the Federal Reserve Bank of Kansas City in Wyoming, a little more than a week ago. The main act, as usual, featured US Fed chair Jerome Powell. His speech was short, direct and with a narrow focus, lasting less than 10 minutes.
Precise, narrow speeches are not what the Fed and central bankers are known for, but this time — amid 40-year-high inflation and market doubts that the Fed would continue to hike rates even with an impending economic recession — it needed commitment. ..
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