I reckon Jack Johnson’s “Sitting Waiting Wishing” must have been at the top of Fed Chair Jay Powell’s playlist this week. Certainly that’s the sentiment expressed in his latest utterances, where he told the Economic Club in Washington overnight that, “You should anticipate that we’re going to be patient, and watching, and waiting, and seeing”, reiterating his soothing comments made at the end of last week that have helped support risk sentiment. As for “wishing”, Powell noted that the current Fed median (‘dot’) projections are conditioned on a very strong 2019 outlook. Chicago Fed president Charles Evans – of late ... (full story)