August 29, 2020 - Closing Thoughts For The Week

This past week’s Jackson Hole testimony from Jerome Powell, in which the Fed made a significant change to its inflation targeting policy, was the biggest development, although it’s less than clear how it immediately impacts the markets. Equities and gold didn’t have much of a reaction, since this has been rumored for several months, but Treasury yields moved up to their highest level since early June before pulling back at the end of the week.

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