Previewing this week’s key events in the US, which have the potential to be market movers, TD Securities analysts note that most of 18 Fed officials will be speaking, including Chairman Jerome Powell.
Key quotes
“The many speakers will inevitably send mixed signals on how “patient” the Fed should/will be as the economy strengthens, although they are likely to be in agreement that actual””not just forecast””improvement is needed before the exit process starts. The chair made the case for patience last week, reinforcing the dovish signal from the dot plot.”
“Following the $1.9 trillion “rescue” fiscal package, focus now is on what will be marketed as a “recovery” package proposal. The proposal will feature infrastructure/clean energy spending, but probably many other items as well. The headline numbers for the package will likely be in the trillions, but with spending spread over 10 years, and with some tax hikes.”
“The president’s press conference on March 25th could offer some clues on what will be proposed. The president will likely also be addressing a joint session of Congress soon.”
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