Fed President expresses confidence in the recovery, but sees no change in the current policy

The rise in bond yields is not worrying according to Jerome Powell as it reflects greater confidence in the US economic recovery. The surge in inflation will be temporary and the Fed has no reason to envisage ant policy change I the foreseeable future. Here are the main (unsurprising) messages of the Fed Chief’s testimony at the Senate yesterday. Bond yields and equities more or less stabilized, as well as the USD around 1.2150. The GBP keeps on strengthening, as confidence in the recovery is building after Boris Johnson unveiled his plan to bring back life to normal in the UK before summer. EUR/GBP is now trading below 0.86 and GBP/USD around 1.42.

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

June 25, 2021

No sign of abating in global gas prices

Despitesome intraday volatility, European gas prices continued to trend higher onThursday. A further rise in coal (new high for the API 2 Jul-21 contract) andEUA…
June 23, 2021

US stocks pushing time spreads higher

ICE Brent prompt contract rose to 75.4 $/b on early Wednesday, after steep crude stock draws forecasted by the API survey in the US, especially…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?  Sign up here!