From Pets.com to ChatGPT stocks: history rhymes. One Fed meeting could puncture today’s AI frenzy like the dot-com crash.
Fed Chair Jerome Powell is slated to speak Friday at the Fed’s annual Jackson Hole symposium. Evercore ISI warns that even a ‘balanced’ tone could trigger a -7% to -15% pullback into October. Fed Chair Alan Greenspan’s 2000 meeting is infamous for popping the dot-com bubble. One cautious rate hike and a hint of tightening …