UBS On-Air: Paul Donovan Daily Audio 'A pontification of central bankers'

Federal Reserve Chair Powell spoke yesterday. Today, no fewer than five members of the Fed are speaking on the economic outlook, presumably to clarify what Fed Chair Powell “meant to say”. Actually, Powell’s speechwriters did not say much controversial, keeping rate cut expectations alive. Media comment around this has tended to sensationalize—inflation is branded as sticky (it is not), and above target (moot point).