Thursday 29th July 2021
There was a tame response to the FOMC statement this morning, but a more marked reaction during the press conference that followed. NAB’s David de Garis says the turning point was Powell’s remark that there was some ground to cover when it came to reaching full employment. Also on today’s podcast, discussion on yesterday’s Aussie CPI numbers, and how the widening trade deficit has seen a downgrade to US GDP expectations later today. And the US infrastructure bill might finally be voted on, but we’ll explain why markets are unlikely to be too interested.