Thursday 29th April 2021
Excuse the American pluralisation, but “long ways to go” is the Fed’s Jerome Powell’s take on the path to recovery for the American economy, and the reason that rates won’t be lifting anytime soon, and the easing of bond purchases are, supposedly, also some way off. There were small movements in the market, says NAB’s Ray Attrill, mostly from the press conference rather than the FOMC statement. Also today, why housing subsidies partially account for Australia’s lower than anticipated CPI numbers yesterday. Plus, the problem with the US’s rising trade deficit, and how we can expect Australia’s terms of trade to rise even more later today. And the first look at earnings results for Apple and Facebook. Spoiler alert, both did well!