Federal Reserve Chair Jay Powell’s warning in Philadelphia is the clearest sign yet that another rate cut is coming and the US central bank is playing catch up again, warns the CEO of one of the world’s largest independent financial advisory organisations.
The US Dollar inched up on Wednesday, recovering from a nearly week-long low after Federal Reserve Chair Jerome Powell expressed caution over further easing, even as markets still anticipate two additional rate cuts this year.
The Indian Rupee surrendered its early gains to finish lower on Monday, as worries about high tariffs on Indian products boosted demand for the Dollar, with importers’ buying adding to the pressure.
Jerome Powell’s looming departure as Chair of the US Federal Reserve could hand President Trump significant influence over the world’s most powerful central bank – and with it the direction of global monetary policy, warns Nigel Green, CEO of global financial advisory giant deVere Group.
Powell and other central bank leaders from around the world should use their time in Jackson Hole this week to make the strongest possible defence of central bank independence — a principle that investors and markets will fully support, says global financial giant deVere Group.
The US Dollar remained mostly steady on Wednesday as investors looked ahead to Federal Reserve Chair Jerome Powell’s speech at this week’s Jackson Hole symposium for guidance on future monetary policy.
Donald Trump may be turning up the heat on the Federal Reserve, but he won’t dare pull the trigger on Chair Jerome Powell’s job because the market reaction would be immediate, brutal and global.
