Long ways to go, says Powell
Thursday 29th April 2021Excuse the American pluralisation, but \u201clong ways to go\u201d is the Fed\u2019s Jerome Powell\u2019s take on the path to recovery for the American economy, and the reason that rates won\u2019t be lifting anytime soon, and the easing of bond purchases are, supposedly, also some way off. There were small movements in the market, says NAB\u2019s Ray Attrill, mostly from the press conference rather than the FOMC statement. Also today, why housing subsidies partially account for Australia\u2019s lower than anticipated CPI numbers yesterday. Plus, the problem with the US\u2019s rising trade deficit, and how we can expect Australia\u2019s terms of trade to rise even more later today. And the first look at earnings results for Apple and Facebook. Spoiler alert, both very strong.
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