Monday 26th August 2024
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Even though Fed speakers positioned markets to expect gradual and methodical cuts late last week, it was a very different language used by Jerome Powell at Jackson Hole on Friday. NAB’s Tapas Strickland joins Phil to discuss what was said and how market reacted. It’s clear a September cut is coming, with the Fed chair declaring that “the time has come for policy to adjust”, with a focus more on easing in the jobs market than the fears of a reprise in inflation. They also look ahead to a fairly busy week for data, including CPI and retail sales in Australia.
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