MARKET WRAP: JSE weaker as hawkish Powell weighs on sentiment

The JSE closed weaker on Friday, with global markets mixed as investors digested hawkish comments by Federal Reserve chair Jerome Powell that the central bank was “not confident” it had done enough in the battle against inflation.

Speaking at the annual conference hosted by the IMF, Powell said the Federal Open Market Committee was committed to achieving a stance of monetary policy that was sufficiently restrictive to bring inflation down to 2% over time, adding that “we are not confident that we have achieved such a stance”…