With concerns about the nascent global trade war escalating and the Treasury yield curve inverting, Federal Reserve Governor Jerome Powell had a clear opportunity to tap the brakes on the central bank’s hawkish lean in today’s semi-annual testimony to the Senate Banking Committee. Instead, Powell generally downplayed concerns about the U.S. economy, prompting traders to increase bets that the Fed would hike interest rates twice more this year.
Highlights from Powell’s comments :
From:: Resource Investor