US re-acceleration possible but Aussie dollar weakness expected to continue.
Wednesday 23rd August 2023
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The Fed\u2019s Thomas Barkin has warned that strong consumer data from the US lately could mean a reacceleration in inflation is possible although, as NAB\u2019s Rodrigo Catril points out, he also suggested that if inflation does come down then America is likely to see a soft landing. Inflation could rise in Europe for a different reason, if we see a reemergence in rising gas prices. If the temporary peak we are seeing now becomes sustained. A rapid recovery in China looks less likely by the day, but they at least have a plan, for a tech driven future where, supposedly, most of the existing growth is coming from. Still, that\u2019ll take time \u2013 part of the reason NAB has revised it\u2019s forecasts for the Aussie dollar. We talk through the revisions on today\u2019s podcast.
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