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Financial markets have taken Jerome Powell's testimony as a signal that the Federal Reserve is fully on board for rate cuts. However, the statement is more nuanced and hints at a more cautious approach from the Fed than is currently priced.
Markets like what they hear
Today's semi-annual monetary policy testimony by Federal Reserve Chair Jerome Powell offers something for everyone. Headline writers for the newswires have chosen to focus on the line that "uncertainties around trade tensions and concerns about the strength of the global economy continue