Compulsions can be hard to resist
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Week ahead: Who let the doves out?
If the Doves wanted an excuse to postpone all taper talk, then they needed to look no further than the Delta strain, yet the Fed refrained from using it as an excuse. Sometimes the things that are left unsaid are the most important. At the press conference this week Powell also dodged more than five chances to say that the Fed had not reached its inflation target, yet refrained from it. Markets have probably read the latest set of meetings from the ECB and the Fed in a slightly dovish light, but we are not as certain. Delta is not a big issue in countries with a decent vaccination pace and we have another few months ... (full story)
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Compulsions can be hard to resist
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