Hints and tips:
...Powell also suggested it was too soon to know whether recent signs of stickier than expected inflation, especially in the services sector, would last....
...UBS’s base case is still for two cuts this year, because of Powell’s comments....
...Investors ramped up expectations for rate cuts next year on both sides of the Atlantic after Federal Reserve chair Jay Powell said it was “not likely that it will be necessary to raise rates further”....
...Federal Reserve chair Jay Powell said on Thursday that the US central bank was “not far” from having the confidence to start lowering borrowing costs....
...Fed chair Jay Powell said this month the central bank was “waiting to become more confident that inflation is moving sustainably to 2 per cent” before cutting borrowing costs....
...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....
...On CBS’s 60 Minutes, aired on Sunday, Fed chair Jay Powell said that he expected about three quarter-point rate cuts this year....
...Minutes from the Fed’s last policy meeting published on Wednesday painted a more hawkish picture than chair Jay Powell’s comments in the accompanying press conference....
...And elsewhere in the FT, don’t miss our weekend edition featuring our 25 most influential women of 2023, including my take on General Motors’ Mary Barra....
...“Expectations for interest rates have fallen rapidly — unleashed by the Fed itself when chair Jay Powell said the bond market was doing its job for it, and then undoubtedly corroborated by the weakening...
...Lagarde’s attempts to warn investors against aggressive bets on lower borrowing costs were in stark contrast to Fed chair Jay Powell the previous day....
...Powell’s remarks are likely to sway those expectations....
...Mary McDougall Will Chinese consumer demand rebound?...
...Powell emphasised the Fed was “proceeding carefully” with future rate rises, which investors took as a sign bond markets have largely succeeded in slowing down the US economy....
...Some analysts say that Powell’s hawkish comments suggest the Fed would prefer to tighten financial conditions through higher Treasury yields rather than through further rate increases....
...Powell said the Fed was committed to achieving a policy stance that was “sufficiently restrictive to bring down inflation to 2 per cent”....
...The unexpectedly dovish stance from Fed chair Jay Powell boosted markets on Thursday morning, with both stocks and government bonds surging on the hopes of global rate cuts....
...Fed chair Jay Powell is speaking on Thursday....
...On Thursday Fed chair Jay Powell will speak at the Economic Club of New York, at which he may give insight into officials’ thinking ahead of the central bank’s next meeting in two weeks....
...The latest volatility in Treasury yields came after Fed chair Jay Powell on Thursday signalled that the US central bank was prepared to forgo raising interest rates when it next meets in November....
...Jay Powell, chair of the Federal Reserve, was the latest official to raise concerns about the US fiscal situation. “It’s not that the level of the debt is unsustainable,” he said in October....
...Mary McDougall Will China’s central bank ease monetary policy?...
...The Japanese currency slid to ¥146.6 per dollar after Jay Powell, chair of the US Federal Reserve, raised the prospect of further domestic interest rate rises, potentially widening the vast gap between US...
...Investors expect the dollar to continue its rebound from a period of weakness earlier this year, as the robust US economy provides little incentive for the US to cut rates any time soon, a move Fed chair Jay Powell...
...At a closely watched conference in Sintra, Portugal, Powell said “although policy is restrictive, it may not be restrictive enough and it has not been restrictive for long enough”....
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