Business

Market roundup: Brazilian markets rattled by the Fed

The Fed will not lower interest rates until U.S. inflation falls to 2 percent – which is still far from happening

The Fed will not lower interest rates until U.S. inflation falls to 2 percent – which is still far from happening.
Fed chair Jerome Powell. Photo: Federal Reserve

🔔 The dashboard: Brazil’s benchmark stock index Ibovespa gained 0.73 percent this week. Meanwhile, the Brazilian Real gained 1.87 percent against the U.S. Dollar this week.

  • Biggest gains: Americanas (retail): +38.91 percent.
  • Biggest drops: IRB Brasil (insurance): -10.45 percent.

U.S. moves, rather than the presidential election, are unsettling Brazilian markets

U.S. Federal Reserve chair Jerome Powell today delivered his long-awaited speech at Jackson Hole, the Kansas City Fed’s annual economic symposium. Mr. Powell avoided painting the Fed into a corner by stating the precise extent to which the central bank will raise interest rates at its next meeting in September. 

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