A heated Senate Banking Committee, doubts over a second term for Jerome Powell, and a looming debt ceiling are all causing concern. But NAB’s Tapas Strickland says on the debt standoff, we’ve been here before.

Jerome Powell talked about the Fed’s new approach, aiming to keep inflation average two percent. NAB’s David de Garis says that means they will allow inflation to rise higher – very different to the approach of the ECB. But does it matter, when inflation has been so low for so long?