Fidelity Director of Quantitative Market Strategy Denise Chisholm is back on the show today, to share her insights on the current market movers, and the sectors she's keeping an eye on. Denise discusses her views on the recent statements by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium, and shares some potential implications she could see this messaging having on the markets. She highlights that the level of interest rates matters less than the reasons behind rate changes. She believes that if higher rates are driven by economic growth, this can be generally positive for the equity market. Denise also provides insights into the relationship between inflation, wages, and the labor market, highlighting the importance of real wage growth for the market's performance, and touches on the resilience of the banking sector in the face of rising interest rates, noting that consumer strength plays a crucial role in supporting banks.

Recorded on August 28, 2023

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