Powell Brushes Aside Rate-Cut Pressure with Confidence on Prices

• Yesterday’s Fed decision and press conference from Chair Jerome Powell pushed back against increasing speculation the bank’s next rate move could be a cut.
• The one thing that remains clear is that U.S. monetary policymakers are happy to do nothing at all right now, as they view the current stance as “appropriate.”
• There will be excitement, however, if there’s any evidence of a brewing hawkish tilt in the minutes. Investors are more likely to concentrate on tomorrow’s payrolls report and amuse themselves with corporate earnings in the meantime.

(Source: Bloomberg)