Yellen May End Up Moving U.S. Equities

Fed Chair Janet Yellen could be the one to kick the S&P 500 across the 2,000 mark.

Yellen speaks at the Fed’s annual Jackson Hole symposium at 10 a.m. EST Friday, in a speech that’s been anticipated for weeks and was widely expected to be typically dovish. However, since Wednesday, traders have been wondering if she would sound more like the Fed’s hawkish July meeting minutes or her normal dovish self.

“The risk is she’s not as dovish as they all hope,” said Art Cashin, director of floor operations at UBS. Yellen is expected to speak on the labor market, and the Fed minutes noted that Fed officials were surprised by improvement in the employment picture.


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