• Join Puck

    Directly Supporting Authors

    A new economic model in which writers are also partners in the business.

    Personalized Subscriptions

    Customize your settings to receive the newsletters you want from the authors you follow.

    Stay in the Know

    Connect directly with Puck talent through email and exclusive events.

  • What is puck? Newsletters Authors Podcasts Events Gift Puck Careers

Powell’s Pain Index, An Elongate Update & Peloton’s Future

News and notes on the most pressing questions obsessing Wall Street: Will JPow drop the hammer? Can the Chancery Court tame Elon Musk? And would somebody please put Peloton out of its misery?

Jerome Powell
Federal Reserve chairman Jerome Powell predicted "some pain" ahead in the fight to tame inflation. Photo: Liu Jie/Xinhua via Getty Images
William D. Cohan
August 28, 2022

As much as I enjoyed the recent late summer stock-market rally—and I did, believe me—I knew in my gut that it was pretty much a chimera. Ask around on Wall Street and you’ll hear variations of the same observation. Sure, there was some optimism that Fed chair Jay Powell might have foamed the runway with his last two interest rate hikes, which probably helps explain why the market got so far ahead of itself these past two months.