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29.04.26 - 21:27
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Powell′s Final FOMC Sees Most Dissents In 34 Years As Fed Keeps Rate Unch (As Expected) (ZeroHedge)
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Powell's Final FOMC Sees Most Dissents In 34 Years As Fed Keeps Rate Unch (As Expected)
Since the last FOMC meeting (on March 18), gold has been clubbed like a baby seal ("EM piggy bank") while stocks and oil have surged (with the former ignoring the peril of the latter)...
During that time, Fed rate-change expectations have swung violently from a full rate-cut to a full rate-hike and fallen back to no change at all in 2026, notably (hawkishly) rising in the last few days as oil prices surged back to war highs...
On the macro front, The Fed's dual mandate is in play as (surprisingly) inflation has surprised to the downside while growth has surprised to the upside...
Notably, The Fed doesn't need to cut rates today for monetary policy to get easier as inflation expectations are rising so much that ex-ante real rates have fallen to the lowest since November and are close to turning negative...
As we detailed earlier, recent labor data (March jobs, ADP, claims) has shown resilience ...
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29.04.26 - 21:27
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Watch Live: Fed Chair Powell′s Last Press Conference (ZeroHedge)
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Watch Live: Fed Chair Powell's Last Press Conference
With Kevin Warsh having won the backing of the Senate Banking Committee on a 13-11 party-line vote to be the next chair of the Federal Reserve, it's pretty much a done deal that this will be Jerome Powell's final press conference as Fed Chair.
And while The Fed took no action - as 100% expected - the question remains whether Powell will lean hawkish (oil crisis means inflation tsunami) or dovish (higher costs drag on economy and need support) despite the most dissents (3 hawkish-er, 1 dovish-er) since 1992...
“The stink of stagflation is in the air,” Senator Elizabeth Warren warned, adding that confirmation of Warsh would help Trump dominate the Fed's monetary policy.
The combination of Warsh's calls for a smaller balance sheet, new ways to think about inflation and communication changes put the onus on Warsh to make clear he'll defend the Fed's independence, said EY-Parthenon Chief Economist Gregory Daco.
“Taken together, thi...
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29.04.26 - 21:27
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Wall Street Reacts To Powell′s Last FOMC Meeting (ZeroHedge)
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Wall Street Reacts To Powell's Last FOMC Meeting
The kneejerk reaction from Wall Street pundits is that the bar for the Federal Reserve to hike rates is still relatively high and there's no need for the Fed to change its bias or react in a meaningful way: that's the view voiced by SocGen's US Research Head Subadra Rajappa, who said on BBG TV that the "US is in a very good position overall"
Others, such as Deutsche Bank Chief US Economist Luzzetti, said that "the Fed could adopt a more balanced language" while JPMorgan Head of Global Fixed Income Bob Michele notes that "the US economy looks pretty good and can absorb some inflation" adding that "inflation is passing through the system" and so "need to watch if cost-push inflation passes to prices."
Michele also said that he's reluctant to say this time the economy will stumble given how the economy managed tariffs last year, and believes that the Fed cold remain on hold until end of this y...
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29.04.26 - 21:24
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Fed-Chef Powell rechnet ab - und bleibt Vorstandsmitglied (DPA-AFX)
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WASHINGTON (dpa-AFX) - Noch-Fed-Chef Jerome Powell will auch nach dem planmäßigen Ende seiner Amtszeit Mitte Mai im Vorstand der US-Notenbank Federal Reserve bleiben. "Ich habe vor, mich in dieser Funktion zurückhaltend zu verhalten", sagte er bei seiner ......
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