Jerome Powell in virtual meeting

What can we takeaway from the Jackson Hole symposium?

This week the Federal Reserve announced its plans for an important shift in its strategy to manage inflation. The central bank will not increase interest rates in response to low unemployment levels and will not worry as much about low interest rates triggering inflation. This was insinuated by a statement Fed chair Jerome Powell made,

Fed announces interest rates will remain close to zero through 2022

During yesterday’s press conference, Federal Reserve chairman Jerome Powell made it clear that the United States’ central bank will continue to apply stimulus to its economy until its severely damaged labour market has recovered from the impact of the coronavirus. He stated the Federal Open Market Committee “aren’t even thinking about thinking about raising rates”,

BP and Shell drag FTSE 100 lower but Aveva shines following stellar results

The FTSE 100 closed down 2.11% on Tuesday as heavily-weighted BP (Ticker:BP) and Royal Dutch Shell (Ticker:RDSA) fell 3.47% and 4.38% respectively. Aveva (Ticker: AVV) rose 4.33% as full-year profits grew 97%. Brent crude, the international oil benchmark, fell by as much as 2% from $40.81 to $40, during London’s trading hours, before trimming losses