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Bloomberg Daybreak: Europe Edition

Powell In No Hurry, Risk Rules 'Gone Too Far' & Dimon Talks Trump

Nov 15, 2024
Federal Reserve Chair Jerome Powell highlights the strong US economy, hinting at a gradual approach to lowering interest rates. In the UK, concerns arise over the potential backlash against US-led protectionism, with Bank of England's Andrew Bailey urging caution. Jamie Dimon comments on Trump's tariff strategies, aiming for constructive discussions. Meanwhile, China's retail sales surge, indicating positive outcomes from recent stimulus efforts. A political figure also pushes for a reevaluation of UK bank regulations to support economic growth.
15:44

Podcast summary created with Snipd AI

Quick takeaways

  • Federal Reserve Chair Jerome Powell indicates that a strong US economy allows for a measured approach to interest rate cuts without urgency.
  • UK Chancellor Rachel Reeves emphasizes the need to relax post-crisis regulations to invigorate economic growth in the financial sector.

Deep dives

Federal Reserve's Cautious Approach to Interest Rates

The Federal Reserve Chair emphasizes that the strength of the U.S. economy allows for a measured approach to interest rate cuts. He highlights that current economic indicators do not necessitate immediate action, suggesting that the Fed will take its time in making decisions about lowering rates. This cautious stance has resulted in reduced expectations for cuts in December, with traders adjusting their positions accordingly. Powell underscores the importance of maintaining the independence of the central bank, indicating that it is crucial for achieving the best public results.

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