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...Powell also suggested it was too soon to know whether recent signs of stickier than expected inflation, especially in the services sector, would last....
...Andrew Hollenhorst, an economist at Citi, noted that shipping disruptions in the Panama and Suez canals, and now on the US east coast following the collapse of a bridge at Baltimore’s port, meant goods prices...
...“The further slowdown in wage growth evident in the fourth quarter employment cost index illustrates that easing labour market conditions are helping to push inflation down,” said Andrew Hunter, deputy chief...
...K-shaped economy. Kate DuguidYeah. Which you say is not eviden--, like a k-shaped economy is not evidence of a weak economy. Robert ArmstrongYeah....
...The rapid rise of Andrew Calder is a case in point. The Scottish lawyer, now in his mid-40s, joined Kirkland just under a decade ago to set up its Houston office....
...First, governor Andrew Bailey and his colleagues loved talking about how they raised interest rates ahead of the ECB and Fed in late 2021. They might want an encore....
...The owners of the long faces you show — Jay Powell, Andrew Bailey and Christine Lagarde — should do their homework (“Central banks rethink forecasting after failures”, Report, December 29)....
...As Andrew Hunter, US economist at Capital Economics put it: Much of the debate on inflation across developed markets right now is being driven by comparing apples to oranges....
...The Bank of England is expected to make its first cut in the summer as governor Andrew Bailey notes “encouraging signs” on inflation....
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...Powell set markets on this uncertain path last August when he described the Fed as “navigating by the stars under cloudy skies”....
...Fed chair Jay Powell on Wednesday warned it would take longer than expected for the US central bank to “gain confidence” that inflation was on a sustainable path to 2 per cent....
...But Bailey, unlike Powell, painted a portrait of a decidedly sickly economy....
...Summing up the challenge in September, Powell said: “Forecasting is very difficult. Forecasters are a humble lot — with much to be humble about.”...
...Andrew Bailey has warned markets against underestimating the persistence of UK inflation and stressed he expected the Bank of England would keep interest rates high for an extended period of time....
...The S&P 500 slipped 0.1 per cent in the final trading session of the week but the index gained 2.3 per cent since last Friday’s close, after Federal Reserve chair Jay Powell on Wednesday indicated a preference...
...Mentioned in this podcast: EU leaders agree to start accession talks with Ukraine Stocks and bonds surge as Jay Powell comments fuel bets on interest rate cuts ECB keeps rate on hold but lowers inflation...
...While Jay Powell, the Fed chair, seized upon favourable trends in US inflation and labour markets as he executed a U-turn on the interest rate outlook, BoE governor Andrew Bailey and his colleagues went...
...We know R-star occupies the Fed because chair Jay Powell said last year he was “navigating by the stars under cloudy skies”....
...In 2019, for instance, President Trump berated chair Jay Powell for his “horrendous lack of vision” as he demanded a massive rate cut....
...Undoubtedly, and using a clever distinction I heard years ago from my former Pimco colleague Andrew Balls, last week’s central bank outcomes were correlated rather than co-ordinated....
...“If the Fed were to avoid pre-emptive cuts, and leave interest rates unchanged until the second half of next year, then you would begin to see a material increase in the unemployment rate,” said Andrew Patterson...
...Fed chair Jay Powell said he did not think recent inflation readings had “really changed the overall story” of price pressures easing to 2 per cent....
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...[Free to read] The US Federal Reserve held interest rates steady yesterday, with chair Jay Powell signalling that US borrowing costs were likely to remain higher for longer....
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