Here’s why Jerome Powell's Jackson Hole speech is taper without tantrum

There is a taper coming but there is no tantrum - it sort of contextualizes what has happened absolutely correctly because the taper is coming and that was a clear message from the Fed Chair Jerome Powell's speech, but he did keep a lot of optionalities out there in his comments, so as to keep the market guessing. He also, of course, delinked tapering to interest rate increases.

Here’s what the top Wall Street banks are making of what the Fed Chair said at the Jackson Hole symposium.

JP Morgan said, “The Fed chair Powell’s Jackson Hole speech didn't break any new ground in the tapering timeline debate. Tapering is coming, but Powell’s remarks remind us that the Fed leadership is still very much more dovish than the regional Reserve Bank presidents.”