(Dow Jones)–The 10-year Treasury yield looks for direction after Chair Powell’s Jackson Hole speech. The benchmark fell during the speech, before rebounding closer to recent highs. It is now declining, at 4.227%. AmeriVet’s Gregory Faranello says the outlook for monetary policy remains cloudy, with many variables that could lead the Fed to hike further or stay on hold, and nobody knows for how long. “I don’t think the Fed knows entirely where things are at,” Faranello says. “We really don’t have a lot of context over the last 20 years.” He notes Powell was very clear about one thing: keeping the inflation target at 2%, after speculation it could be raised to around 3%.

By: Paulo Trevisani