Business Columnists
Opinion

Powell Warns Wall Street That the Punch Bowl Is Empty

Powell Warns Wall Street That the Punch Bowl Is Empty
Federal Reserve Chair Jerome Powell leaves after a press conference following a two-day meeting of the Federal Open Market Committee in Washington on July 27, 2022. Elizabeth Frantz/Reuters
J.G. Collins
|Updated:
0:00
Commentary
U.S. stock markets tumbled more than 3 percent on Aug. 26 after Federal Reserve Chairman Jerome Powell offered up a stark eight-minute soliloquy telling Wall Street’s “Masters of the Universe” to straighten up, fast, because the Fed wasn’t going to refill the punch bowl.
J.G. Collins
J.G. Collins
Author
J.G. Collins is managing director of the Stuyvesant Square Consultancy, a strategic advisory, market survey, and consulting firm in New York. His writings on economics, trade, politics, and public policy have appeared in Forbes, the New York Post, Crain’s New York Business, The Hill, The American Conservative, and other publications.
Related Topics