Analysts at Danske Bank point out that headlines overnight were dominated by several interesting central bank headlines with focus was on Fed Chair Jerome Powell.
“Fed Chair Jerome Powell spoke yesterday. He emphasised that the Fed is now in a place where it has room to be patient and flexible in terms of further adjustments in monetary policy. On the balance sheet, his message was that it will be substantially smaller than now, but bigger than before the crisis.”
“Fed Vice Chair Richard Clarida followed up on Powell’s message, stressing that the Fed should be forward looking as it would not be prudent to wait until a slowdown before acting. On the balance sheet discussion, he said it will be consistent with the Fed’s goals for monetary policy.”
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