Comments from Powell Powell has been asked about immigration, tariffs, government debt and stress tests but has said all the standard things in response. He also brushed aside worries about yield curve inversion again.
Powell at the House Financial Services Committee ForexLive
Humphrey Hawkish part 2 I can’t remember a time when the second day of testimony led to anything particularly revealing or market moving. Expect the same opening statement and then a Q&A at about 25-minutes after the hour.
Bernanke at an event to discuss lessons from 2008 crisis Bernanke brushed aside worries about the yield curve at an event late Tuesday, saying that QE and regulatory changes may have distorted the signal.
Upbeat comments from Bank of France leader In the latest IMF growth estimates, the largest developed market downgrade was for France (-0.3 pp).
Lots of “some districts”, “most districts” and “a few districts” The Beige Book is an anecdotal review of the US economy from a Federal Reserve district by district basis.
Adds to earlier comments on crypto Earlier he said: Bitcoin on Coinbase is trading at $7440, up $125. The 100 day MA is at $7608.82. ForexLive
More from Powell Since Powell has come back from a break, there hasn’t been much interesting. One thing that’s great about Powell is that when he can’t answer a question, he just says he can’t answer it. It helps things move along, rather than running out the clock and rambling like Yellen. “I’m not going…
People’s Bank of China with the daily reference rate setting for the onshore yuan Ladies and gentlemen, you are permitted by the Bank to trade the CNY + or – 2% from this reference rate for the session. But no more! K?
Housing hurts this week The NY Fed model for 2Q GDP growth saw a dip to 2.7% from 2.8% last week. The fall can be attributed to weaker housing. Building permits subtracted -0.03% and Housing starts trimmed -0.07%. Industrial production added 0.03% this week.