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Powell steadies expectation of a Fed rate cut, US dollar gaining
In the May FOMC meeting, the Federal Reserve moved to calm the prospect that falling inflation could lead to a rate cut this year. Fed chair Powell moved yesterday to do a similar thing with fears that trade tariffs could negatively impact on the US economy and subsequently FOMC monetary policy. Powell believes that it is “premature” to take the view that tariffs will move the Fed approach. Again steering the market away from a prospective Fed rate cut has helped to bolster the dollar once more. It is also interesting to see the path of lower Treasury yields has just begun to turn a corner again, at least in the ... (full story)
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