🚀 Powell Speech Today

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. All eyes are on Federal Reserve Chair Jerome Powell as he prepares to deliver what will likely be his final keynote at Jackson Hole later today, a speech that could shape markets and policy for months. Investors expect Powell to carefully hint at a September rate cut while stressing the Fed’s independence amid mounting political attacks from President Trump, who has pushed for lower rates and criticized Fed officials directly. Beyond the immediate outlook, Powell is also expected to revisit the Fed’s long-term framework, with economists anticipating a rollback of its 2020 “flexible average inflation targeting” policy after the central bank was seen as too slow to curb surging prices. With inflation pressures lingering, job growth slowing, and political scrutiny at a fever pitch, Powell’s tone may matter as much as his policy signals.

2. Workday posted better-than-expected earnings and revenue for the quarter, but shares slipped after hours as management warned of headwinds in key markets. CEO Carl Eschenbach pointed to budget uncertainty in state and local governments and fresh funding pressures in higher education following President Trump’s executive order to dismantle the Department of Education. While annual guidance came in line with Wall Street expectations, the company’s cautious tone dampened enthusiasm. To bolster growth, Workday announced plans to acquire Paradox, an AI-driven recruiting software company, as it continues weaving automation more deeply into its HR and finance platforms. Despite steady topline growth, Workday stock remains down double digits in 2025, lagging the broader tech rebound.

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4. A federal judge ruled that Alina Habba, Trump’s acting U.S. Attorney in New Jersey and his former personal lawyer, was unlawfully appointed to the role and must step aside from ongoing criminal cases. Judge Matthew Brann said the administration used an unprecedented series of legal maneuvers to keep Habba in office after New Jersey’s judges rejected her appointment, concluding she has been exercising prosecutorial authority without legal standing since July. While Brann stayed his decision to allow for appeal, he warned her actions could be declared void, a blow to both the Trump administration’s strategy and Habba’s future as a federal prosecutor.

   Headlines

   1. A New York court has overturned the $500M+ civil fraud fine that Donald Trump faced.

   2. Cracker Barrel shares fell over 10% after the company released a new logo and branding.

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