A hint of rising inflation doesn’t budge Powell
Friday 12th July 2019 Fed Chair Jerome Powell didn’t alter his stance on day two of his Senate testimony. NAB’s David de Garis says expectations for a cut haven’t wavered from yesterday, despite signs of inflation picking up in the United States. CPI figures exceeded expectations, with an annual rate of 2.1% (vs. 2.0% expected). Equities waivered a little as President Trump tweeted that China hadn’t stuck to their end of the trade deal, as he saw it. Whilst Australia seems mired in bad news, with falling investment, low consumer confidence and, of course, the cricket.