Hot and cold on hype, hikes and a hurricane
Fed chief keeps mum on rate hike; some traders see best global economic growth prospects in a decade or more
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US STOCKS rebounded to new records as the Federal Reserve looked likely to give the market a reprieve from rate hikes.
Further gains are likely this week, if employment and manufacturing data is consistent with the emerging picture of a global economic boom and if Hurricane Harvey is not too catastrophic.
In a speech from Jackson Hole, Wyoming, that was almost as hyped as the Mayweather-McGregor fight, Fed chairwoman Janet Yellen studiously avoided tipping her hand on rate plans for the balance of the year. Instead, she mounted a fierce defence of the Fed and other regulators' tighter grip on banks in the wake of the financial crisis.
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