The problem is Powell doesn’t seem to buy into investors’ worst fears about the economic outlook.

In his first speech as Fed chief at Jackson Hole, Powell put his weight behind Sept rate hike.

FOMC left interest rates unchanged after raising them three times in last three quarters.

Unemployment is low, but policy makers don’t need to rush to raise rates because indicators of economic slack still remain.

As energy costs eat up more of consumer expenditures, companies have difficulty raising prices on other goods and services.

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The Federal Open Market Committee (FOMC) avoided foreshadowing its next move after lowering the benchmark rate on September 18.