The Ibex falls, pressured by Telefónica and the banks, while waiting for Powell

The Ibex lost positions this Thursday (-0.5%), pressured by the notable declines in Telefónica and banks, awaiting the appearance of Jerome Powell, president of the Federal Reserve (Fed), in Jackson Hole. Powell, in a speech that will take place at around 3 p.m. Spanish time, is expected to discuss the Federal Reserve's policy framework and specifically how it will alter its stance on inflation. The Federal Reserve has had an inflation target of 2%, but in the decade since the financial crisis it has frequently seen inflation fall below its target. Goldman Sachs expects Jerome Powell to set an average inflation target of 2% -2.5%.