Markets have abandoned hope of a pivot by the Fed. NAB’s Rodrigo Catril says the latest non-manufacturing ISM survey shows the US economy remains resilient, with a tight labour market. That’s not the environment to see the Fed ease off the pedal.
In the Thirties the Chicago Plan proposed that banks had no part in money creation. Good idea or bad? Me and @profstevekeen on this week’s Debunking Economics podcast https://podfollow.com/debunking-economics-the-podcast
A quiet session, with no bad news giving a refocus on the Fed and other central banks. JBWere’s Sally Auld says we shouldn’t discount further systematic uncertainty as rates rise. https://podfollow.com/nab-morning-call
