NAB Morning Call Trump’s man for the Fed
Aug 10, 2025
Ray Attrill, NAB's market economist and strategist, shares his insights on pivotal economic updates. He discusses the implications of new inflation data and the impact of a temporary Fed appointment on interest rates. The conversation also tackles geopolitical tensions, particularly the looming Trump-Putin meeting and its potential effect on oil prices. Attrill examines how tariffs, especially on gold, could reshape market dynamics, along with trends in employment data affecting central banks like Canada and Australia.
AI Snips
Chapters
Transcript
Episode notes
Alaska Meeting Unlikely To Resolve Ukraine
- Ray says markets expect no breakthrough from the Alaska Trump–Putin meeting.
- But the meeting could still sway oil prices through geopolitical uncertainty.
Markets' Reaction Was Short‑Lived
- Markets briefly reacted with lower short-term US yields and a weaker dollar.
- However the move lacked follow-through, so its lasting impact is uncertain.
Miran Could Tilt The Fed Toward Cuts
- Stephen Miran's appointment would make four of seven Fed governors favour cuts.
- That raises the probability of an earlier rate cut if he's confirmed.