Something doesn't feel right with Fed expectations... | MarketTalk: What’s up today? | Swissquote
Yesterday was one of those days when investors insisted on seeing a glass that was one-tenth full as completely full.
The US producer price data came in higher than expected. US President Joe Biden announced eye-watering tariffs on Chinese imports – that’s inflationary – and the Federal Reserve (Fed) President Jerome Powell called for patience, again yesterday, and said that they did not expect the inflation battle ‘to be a smooth road’ but that the numbers ‘were higher than anybody expected’, and that it will probably take them ‘longer… to become confident that inflation is coming down to 2%’. Indeed,...