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Fed's Powell says policy has not been as accommodative as we thought
FED'S POWELL SAYS POLICY HAS NOT BEEN AS ACCOMMODATIVE AS WE THOUGHT
— *Walter Bloomberg (@DeItaone) July 11, 2019
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Fed's Powell: Relationship between unemployment and inflation has become weaker and weaker and weaker $FED $MACRO
— Breaking Market News (@financialjuice) July 11, 2019
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#Fed Chair Powell:
— DailyFX Team Live (@DailyFXTeam) July 11, 2019
-Trade issues are weighing on outlook for Fed
-Trade issues with China are shifting supply chains to other countries
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The Fed chairman says the relationship between inflation and unemployment is gone
Federal Reserve Chairman Jerome Powell said the relationship between unemployment and inflation has collapsed. “The relationship between the slack in the economy or unemployment and inflation was a strong one fifty years ago ... and has gone away,” Powell said on Thursday during his testimony in front of the Senate Banking Committee. “At least twenty years ago, that period was over and the relationship between unemployment and inflation became weak. And it’s become weaker and weaker and weaker,” he said. “In additional to that, we are learning that the neutral interest rate is lower than we had thought ... (full story)
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