Top-of-mind economic headlines as we start the week:
— Fed Chair Powell called inflation “too high” and warned that “we are prepared to raise rates further,” at Jackson Hole Economic Symposium.
— The Australian government said it is concerned about the domestic impact of China’s economic slowdown; China is Australia’s largest trading partner.
— U.S. home sales fell 2.2% in July vs. June; supply of houses for sale is 15% lower than 12 month ago and median price is 2% higher.
— The U of Michigan index of U.S. consumer sentiment was down slightly in August to 69.5, after a rising trend; index was around 90 at start of 2020.
— An S&P service will allow investors to assess nature & biodiversity risk; covers more than 17,000 companies on nature-related risk metrics.
