Powell Nods To Two-Way Risks, But Wants More Data For Rate Cut
Jerome Powell kicked off two days of congressional testimony on Tuesday with a set of boilerplate remarks that broke no new ground.
As discussed here at some length in this week's macro preview, Powell's semi-annual waterboarding session on Capitol Hill wasn't expected to be a tradable event, with one possible caveat.
Here's how I put it a few days ago: The chances of Powell saying anything to materially change traders’ outlook on policy for the balance of the year are de minimis, although h
Hoping against hope to time that cut just prior to the election which will enable the current administration to declare victory in the inflation fight thus disproving right wing media’s argument that you need them to make that happen.
I think core swing voters don’t know what a rate cut is or what the Federal Reserve is. They have few political convictions, don’t follow news, don’t know what either party stands for, and vote based on how satisfied they are with their own narrow circumstances.
Source: Economist meta analysis https://www.economist.com/leaders/2024/04/11/true-swing-voters-are-extraordinarily-rare-in-america (register to read)