Markets split as Powell admits recession is possible
Thursday 23rd June 2022You take whatever you want from a senate hearing, so there have been mixed reviews of Jerome Powell\u2019s performance in front of the Senate Banking Committee. Some picked up on his claim that the US economy was in a strong position, whilst others focused on his warning that a recession was a \u2018possibility\u2019. Phil asks NAB\u2019s Gavin Friend if that\u2019s why we\u2019re seeing sentiment split, from positive moves in US equities for most of the session, to a less positive outlook amongst bond markets and commodity traders, with the Aussie dollar bearing the brunt of it. They also discuss UK and Canadian CPI, and look ahead to the barrage of PMIs today.
Hosted on Acast. See acast.com/privacy for more information.