Comments from Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, cross the wires as he responds to questions from members of the Congress at the second day of his semi-annual monetary policy testimony before the Committee on Financial Services. Below are some key takeaways, per Reuters.
“Trade disputes are inserting uncertainty into global supply chains.”
“Relationship between unemployment and inflation has become weaker and weaker and weaker.”
“Policy has not been as accommodative as we thought.”
“German bund yields a function of ECB policy actions and low growth expectations.”
Markets don’t seem to be paying much attention to Powell’s comments and the US Dollar Index continues to float above the 97 mark.