Markets turn as Powell reaffirms some way to go
Thursday 29th July 2021There was a tame response to the FOMC statement this morning, but a more marked reaction during the press conference that followed. NAB\u2019s David de Garis says the turning point was Powell\u2019s remark that there was some ground to cover when it came to reaching full employment. Also on today\u2019s podcast, discussion on yesterday\u2019s Aussie CPI numbers, and how the widening trade deficit has seen a downgrade to US GDP expectations later today. And the US infrastructure bill might finally be voted on, but we\u2019ll explain why markets are unlikely to be too interested.
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