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Federal Reserve chair Jerome Powell emphasised the Fed’s readiness to maintain a “restrictive” policy at the Jackson Hole symposium.

Markets struggled to find a direction on August 25 following mixed comments from Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Symposium in Jackson Hole, Wyoming.

Dollar clinched the title of the week's best performing currency, even though there was just muted impact from Fed Chair Jerome Powell's remarks at Jackson Hole. While Powell's renewed commitment to combating inflation prompted traders to elevate their expectations for another rate hike within the year, broader market reactions, notably in equities and bonds, were rather subdued. Clearly, investors are taking a long view beyond the anticipated pause in September.

(Bloomberg) -- The Federal Reserve is reaching a pivotal moment in its fight against inflation. After more than a year of solid agreement that higher interest rates were needed, differences among policymakers have started to deepen as they weigh when to stop hiking and how long to keep rates elevated.Most Read from BloombergThe Bear Market Has Nearly Been Erased, Fewer Than 20 Months After It BeganPutin Warns Poland Over ‘Aggression’ Against Ally BelarusUS Recession Becomes Closer Call as Econom

The Fed chair told Congress that 2019's big shrink wrongfooted him: "We didn't see it coming."