The Fed maintained its monetary policy unchanged in March, as widely expected by both consensus and markets. Powell refrained from strong forward guidance but appeared more concerned about inflation than downside risks to growth. Median ‘dots’ remained unchanged, but the distribution shifted towards later cuts. 2y UST yields shifted some 7bp higher, and EUR/USD declined […]
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BoC Governor Tiff Macklem delivered a clear warning that the Bank of Canada is becoming increasingly uncomfortable with the inflation risks created by the Middle East conflict. While policymakers are still willing to “look through” Read more…
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Chicago Fed President Austan Goolsbee said the Iran conflict is increasingly behaving as an inflationary shock rather than a stagflationary one, a distinction that carries important implications for monetary policy. Speaking after attending the Milken Read more…