In an interview with Bloomberg TV earlier on Friday, JP Morgan Chase International Chairman Jacob Frenkel expressed his view on the upcoming speech by the US Federal Reserve (Fed) Chairman Powell due later today at 1400 GMT. Key Quotes: Trump shouldn’t intervene with the Fed’s job. The more interventions there are, the more markets will realize they are ineffective. There is a huge amount of uncertainty caused by the trade war among other factors. Trade war, Brexit, political risks should not be only handled by monetary policy. Trade war has been affecting businesses in a very negative way. Services is still okay; manufacturing and business investment are not okay. Powell should be cautious later today. He should emphasise on caution, going slowly and being data dependent. By counting heads, it looks like the Fed may cut by 25 bps in September. But the Fed has to be wary, they are not equipped to deal with the next recession. There is also a need to have insurance in keeping monetary policy ammunition. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD losing ground as Brexit optimism fades ahead of the Fed Yohay Elam 4 years In an interview with Bloomberg TV earlier on Friday, JP Morgan Chase International Chairman Jacob Frenkel expressed his view on the upcoming speech by the US Federal Reserve (Fed) Chairman Powell due later today at 1400 GMT. Key Quotes: Trump shouldn't intervene with the Fed's job. The more interventions there are, the more markets will realize they are ineffective. There is a huge amount of uncertainty caused by the trade war among other factors. Trade war, Brexit, political risks should not be only handled by monetary policy. Trade war has been affecting businesses in a very negative way. Services is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
