Hawks gather at Jackson Hole

The recovery in global stocks came to abrupt halt on Friday after central bank officials at their annual gathering in Jackson Hole delivered a clear message: higher interest rates are necessary to bring down inflation, even it brings some pain to households and businesses.

Early gains were wiped out and the blue-chip S&P 500 and technology focussed indices end the week 2.6% and 2.9% lower respectively.

It didn’t need an ornithologist to spot the hawks at the picturesque resort in Wyoming and the warnings they delivered were stark. Federal Reserve Chair Jerome Powell’s speech on Friday lasted just 8 minutes but it was long enough for him to assert that a deteriorating economic outlook will not hold the Fed back from raising interest rates.

TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.

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