Analysts at Danske Bank points out that we have had a number of Fed speeches and the Fed Vice Chairman Clarida backed the more gradual approach to rate rises and stated that risks ‘was less skewed to the downside’.
Key Quotes
“While St. Louis Fed President Bullard was more cautious and said the Fed must monitor possible ‘cracks’ in the recovery, while others called for a more neutral policy and noted there were pockets of distress and that the trade dispute with China was not helping the economy.”
“The Fed Chairman was also criticised by President Trump for raising rates. Hence, there will be plenty of focus on the speech tonight by Powell.”
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