When Fed Chair Powell goes on stage tonight we of course stay on the line for live coverage of the interest rate decision and the following speech. Get prepared and follow the meeting with us, as well as getting the best takeaways here on our live blog!
Something for your Espresso: Powell the flip-flopper
Powell is back as the hawk we knew from 2022, but the extreme data-dependency is volatility creating by design. One soft inflation and/or job report and we will back at where we were just a few weeks ago. Buckle up.
Something for your Espresso: RBA “inflation has peaked” .. over to you JPow
RBA echoed other major central banks by clearly stating that inflation has peaked. This is a potential interesting harbinger ahead of Powell’s appearance in the US congress
Something for your Espresso: A yuuge week ahead
The Chinese politburo aims for 5% annual growth in 2023. This leaves room for an upside surprise from China for once. We have a big week ahead of us. Find our expectations here.
Something for your Espresso: ”Inflation has peaked”
It is safe to say by now that Powell has been a key person behind orchestrating the coordinated global central bank message of “peak inflation”. The bar is VERY high to price the Fed more aggressively than now.
Steno Signals #6 – Is growth no longer relevant?
Inflation runs markets currently as it seems as if growth has become irrelevant for policy makers, but will such a narrative pass a reality test? I doubt it. Growth will re-enter the limelight soon!
Stenos Signals #4 – Biden owns a printer, while Powell owns a flat iron
I remain of the view that it is inadvisable to make large portfolio changes during Geopolitical turbulence. Markets remain lukewarm despite the Russian aggression, so let’s look at the medium-term.