Cognitive Finance Blog
21 August 2017
Bassanese Bites: Jackson Hole: What will Yellen and Draghi say? – 21 August 2017
After a promising start to the week – reflecting easing tensions over North Korea – global equities ended the week down due to renewed concerns over US President Donald Trump.
The goods news last week was that North Korea appears to have blinked – at least momentarily – by delaying plans to fire a missile toward Guam. The bad news was that President Trump could not manage to unambiguously criticise Neo-Nazis in the wake of the Charlottesville tragedy. This pushed many high profile CEO’s to resign from his business councils, leaving the President little choice other than to disband them. Even more jarring for markets, however, was a rumour that Trump’s National Economic Council Director, ex Goldman Sachs banker Gary Cohn, would resign – later denied by the White House. Instead, it was divisive political adviser Steve Bannon who was shown the door on Friday!
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