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Central bank activity now has a global reach and an intertwined relationship with the world's fixed income markets.
After the Federal Reserve decided to keep its target rate steady at its January meeting, Chairman Jerome Powell devoted part of his press conference remarks to discussing the global economy. "There are grounds for what I would call 'cautious optimism' about the outlook now for the global economy," he said.
Powell's reference to matters outside the U.S. was expected. Geopolitical events around the globe affect the U.S. economy, and increasingly, central bank