US Federal Reserve Chairman Jerome Powell announces further sharp interest rate hikes in Jackson Hole, thereby destroying the hopes of many stock market traders. For Germany, the risk of also importing inflation is increasing.
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Claus Hulverscheidt, Berlin
When it comes to the view, the Jackson Lake Lodge in the far west of the US state of Wyoming does not need to hide behind any hotel complex in the world. The majestic peaks of the Teton mountain range, the fir-lined lake, the meandering course of the Serpent River and finally that endless green plain where, if you squint, you can sometimes spot hundreds of wild bison grazing. But it wasn’t the prospect that caught the eye of attendees at Friday’s annual central bankers’ meeting in scenic Jackson Hole Valley. Rather, all eyes were on a speaker from whom stockbrokers, governments, companies and citizens on all continents expect no less than saving the world, at least the economic world: Jerome Powell.