Shares of power producers rose alongside Treasury bonds in the wake of Chairman Jerome Powell’s speech at Jackson Hole.
“Chairman Powell’s comments at Jackson Hole were more dovish than we and markets were expecting,” said strategists at brokerage Bank of America Global Research, in a note to clients. “Powell was clearly spooked by the downward revisions to payrolls, as there haven’t been other major dovish developments since his hawkish July presser.”
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
August 22, 2025 17:27 ET (21:27 GMT)
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