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Fed's Powell Sticks To Dovish Script
If Powell had the intention to flip flop the intended easing action the Fed will embark upon this July on the heels of the strong US payrolls and the prevention of a radical escalation in the trade war via a half-hearted US-China trade truce at the G20, he would have done so. Instead, Fed Chair Powell’s prepared statement was dominated by clear dovish connotations, reiterating that uncertainties since the June FOMC continued to dim the US economic outlook driven by trading concerns and a global economic slowdown. On the topic of the protracted low inflation we are seeing, Powell shifted into a higher gear of ... (full story)