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UBS On-Air: Paul Donovan Daily Audio 'A standard Powell speech'
Published 4 months, 3 weeks ago
Description
Federal Reserve Chair Powell’s speech at Jackson Hole last week was classic Powell. That is not a terribly good thing. Powell signaled an increased probability of a September rate cut to counter the damage of trade taxes on the US economy. Markets liked that. But this was essentially the “data dependent” mantra padded with additional rhetoric.