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NAB Morning Call
It’s taking longer, says Powell
Apr 16, 2024
Former Federal Reserve chairman Jerome Powell discusses the shift in sentiment among central bankers at the IMF meeting. Powell signals a delay in rate cuts, contrasting previous assumptions. Andrew Bailey of the Bank of England considers inflation dynamics, potentially leading to earlier rate cuts. NAB's Rodrigo Catril joins to analyze the latest data and central banks' statements.
17:12
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Quick takeaways
- Central bankers like Jerome Powell are signaling potential delays in rate cuts, highlighting cautious approach.
- Andrew Bailey of the Bank of England suggests a possible earlier rate cut amidst discussions of inflation and rising unemployment.
Deep dives
Shift in Central Bank Strategies
Central bankers like Jerome Powell and Andrew Bailey are adjusting their strategies, hinting at potential delays in rate cuts. Jerome Powell is cautious, mentioning the need for more time before implementing cuts. On the other hand, Andrew Bailey positions the Bank of England to act post the Fed, indicating a shift in previous messages. The IMF's revised US growth forecast and a notable rise in UK unemployment may influence these shifts.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode