Brexit vote had the potential to create new economic headwinds - BBH
|Research Team at BBH, notes that last night, Fed Governor Powell spoke and whilst sounding fairly upbeat about the US outlook, he did acknowledge that the Brexit vote had the potential to create new economic headwinds.
Key Quotes
“Powell noted that financial conditions have tightened since the vote, but added that “we’re a long way from having another financial crisis.” Indeed, the Fed today will announce the results of the second part of its bank stress tests. While there may be some outliers, the global financial system is in better shape as a result of the Great Financial Crisis.”
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