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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....
...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”....
...UBS’s base case is still for two cuts this year, because of Powell’s comments....
...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....
...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....
...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....
...On CBS’s 60 Minutes, aired on Sunday, Fed chair Jay Powell said that he expected about three quarter-point rate cuts this year....
...“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....
...Mary McDougall Will Chinese consumer demand rebound?...
...Powell’s remarks are likely to sway those expectations....
...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”....
...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....
...— the estimate had been for $114bn but we are only getting $112bn, and in a fiscal world with little to cheer about, that’ll do,” said Jim Leaviss, chief investment officer of public fixed income at M&G...
...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....
...“They are trying to support the currency while not being seen as tightening,” said Eva Sun-Wai, fund manager at M&G Investments....
...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....
...“It feels like the market is anticipating a modification to yield curve control and is starting to price that already,” said Jim Leaviss, chief investment officer for public fixed income at M&G....
...“The US is running a budget deficit of 7 per cent — for [a] non recessionary period that’s very high,” said Jim Leaviss, fund manager at M&G, the asset manager....
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