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Jerom Powell: Looking at rates, there isn't much to change ...

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CBS is doing a 10-year retrospective of the bottom in financial markets and it will include an interview with Powell, Yellen and Bernanke.

Here are the most interesting comments from Powell:

Policy rate now "roughly neutral"
Powell says he doesn't believe Trump has the power to fire him
Says plans to serve his 4 year term
China, Brexit and Europe are risks to US economy
Still feels there will be materially positive growth in EU
Main risks to US are from abroad
We think the US outlook is a positive one
Repeats that economy is in a good place
Says watching retail sales after a weak December but that there is some evidence of a rebound in January
Financial conditions 'generally healthy'
Stock market valuations mostly at 'normal' long-term levels

Looking at rates, there isn't much to change the outlook here for an extended pause. There is a definite and growing belief at the Fed that the US is a lone strong economy but the inference is that US growth alone wont' be enough to spark rate hikes.


 Trader Georgi Bozhidarov

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