{"id":4749,"date":"2022-08-28T19:19:47","date_gmt":"2022-08-28T23:19:47","guid":{"rendered":"https:\/\/envisionco.net\/?p=4749"},"modified":"2022-08-28T19:19:47","modified_gmt":"2022-08-28T23:19:47","slug":"week-ending-8-28-2022","status":"publish","type":"post","link":"https:\/\/envisionco.net\/?p=4749","title":{"rendered":"Week Ending 8\/28\/2022"},"content":{"rendered":"<p><strong>MARKET RECAP<\/strong><\/p>\n<p>The market&#8217;s wishful thinking that the Fed would step off the brakes earlier rather than later officially came to a close on Friday in Jackson Hole when Fed Chair Powell said that &#8220;We will keep at it until we are confident the job is done.&#8221; Powell made clear that there will be no pivot in strategy anytime soon and that the end goal is to get inflation back to the 2%. Fed officials have made projections that rates would need to get to almost 4% by the end of next year for that to happen. Stock plunged, with the Dow dropping by more than 1,000 points. The S&amp;P 500 dropped by 3.4% and the Nasdaq by 3.9%.<\/p>\n<p>For the week, the overall US market was down by 3.79% and bonds fell by 0.37%. Year-to-date, US stocks are down by 15% and international markets are off by 17.3%, bonds are in the negative by 9.88%.<\/p>\n<p>Powell wants to avoid the mistakes of the 1970s and early 80s when the Fed didn&#8217;t follow through on interest rate increases and inflation remained a persistent problem until Paul Volker has to raise rates to very high level to break the cycle.<\/p>\n<p><strong>SCOREBOARD<\/strong><\/p>\n<p><a href=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/08\/Scoreboard-08-28-2022.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-4751\" src=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/08\/Scoreboard-08-28-2022-85x300.png\" alt=\"\" width=\"85\" height=\"300\" srcset=\"https:\/\/envisionco.net\/wp-content\/uploads\/2022\/08\/Scoreboard-08-28-2022-85x300.png 85w, https:\/\/envisionco.net\/wp-content\/uploads\/2022\/08\/Scoreboard-08-28-2022-290x1024.png 290w, https:\/\/envisionco.net\/wp-content\/uploads\/2022\/08\/Scoreboard-08-28-2022-435x1536.png 435w, https:\/\/envisionco.net\/wp-content\/uploads\/2022\/08\/Scoreboard-08-28-2022.png 573w\" sizes=\"auto, (max-width: 85px) 100vw, 85px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARKET RECAP The market&#8217;s wishful thinking that the Fed would step off the brakes earlier rather than later officially came to a close on Friday in Jackson Hole when Fed Chair Powell said that &#8220;We will keep at it until &hellip; <a href=\"https:\/\/envisionco.net\/?p=4749\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1893,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4749","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/users\/1893"}],"replies":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4749"}],"version-history":[{"count":2,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4749\/revisions"}],"predecessor-version":[{"id":4752,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4749\/revisions\/4752"}],"wp:attachment":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}