Comeback of S&P 500 fizzling out

Firm stance: Powell at the Jackson Hole economic symposium in Moran, Wyoming. The Fed chairman says the US central bank is prepared to raise interest rates further if needed, to keep pulling down inflation. — Bloomberg

NEW YORK: Is anyone surprised that the S&P 500 swung into the green last Friday? Don’t be. Just wait. It’ll fall again.

That’s been the August trend, at least, thwarting any effort to revive the US stock market rally since it stalled early this month.