• Inflation is no longer the only risk to the economy, says Powell | MarketTalk: What’s up today? | Swissquote

  • Jul 10 2024
  • Duración: 10 m
  • Podcast

Inflation is no longer the only risk to the economy, says Powell | MarketTalk: What’s up today? | Swissquote Por arte de portada

Inflation is no longer the only risk to the economy, says Powell | MarketTalk: What’s up today? | Swissquote

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  • Federal Reserve (Fed) Chair Jerome Powell’s testimony yesterday wasn’t overly optimistic but it revived the expectation that a rate cut could come sooner rather than later. In the first day of his semiannual testimony before Senators, Powell said – for the first time in three years – that inflation is no longer the only threat to the US economy but the cooling jobs market also is. Although he didn’t want to offer a clear timeline when asked when the Fed would lower interest rates, Powell said that the latest jobs report sent a ‘pretty clear signal’ of a cooler labor market. US yields fell, major indices advanced to fresh records but the US dollar remained bid on a euro selloff after Moody’s warned France about risks to its credit rating should government finances get worse. Elsewhere, US crude cleared a minor Fibonacci support yesterday and nat gas remains under pressure near oversold market conditions. Inflation in China came in below expectations, while the Reserve Bank of New Zealand (RBNZ) maintained its policy rate unchanged at 5.5% for the 8th straight meeting but hinted that the degree of restraint will be gradually adjusted to the expected decline in inflationary pressures. Listen to find out more!
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