Well, howdy there, internet people, it's Bell again. So today, we're going to talk about Jackson Hole, Powell, in the future. So, Federal Reserve Chair Jerome Powell gave his much-awaited speech in Jackson Hole, Wyoming. We got a message with a brief summary and a question.

Quote, for the first time in my life, I watched an economic conference. Thanks for giving me a

bizarre new interest. I watched Powell speak at Jackson Hole. I'm really confused about the

reactions to it. Powell basically said they're

boxed in by inflation and a softening job market, and that they expected prices to rise more because

of the tariffs, and that it could take months. But also, because the labor market was weakening,

they might have to lower interest rates.

The stock market took the news of the economy being in stuck mode as a good thing.

I know you'll say the stock market is not the economy.

But how on earth do they see this as a good thing?

I'm just not understanding something fundamental at this point.

This was literally the situation you and other economists warned about.

High inflation and low employment is stagflation, right?

Okay, so first, I'm not an economist. I'm an enthusiastic amateur, and now so are you.

But yes, Powell laid out a scenario that could be seen as a precursor to stagflation.

They aren't looking at dropping rates because inflation is under control, but to hopefully make it cheaper to borrow

money, so people will borrow more, and that will hopefully translate into more jobs. All the market

heard was, we're likely to lower interest rates. You're not missing anything fundamental.

Powell basically said prices were going to go up for a bit,

but the bigger risk may be a weakening job market. So we may have to cut interest rates

anyway. Quote one, the effects of tariffs on consumer prices are now clearly visible.

We expect those effects to accumulate over coming months,

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