Some Fed officials believe the case for a rate cut is strengthening;
The decision to hold the line was 9-1, but a dot plot chart of individual members’ expectations for rates showed division about where rates go through the remainder of 2019. The median “dot” indicated no change in rates this year, but the full chart showed eight members in favor of staying put, eight expecting to cut and one projecting a quarter-point increase. Powell said even those members who favored the status quo “agree the conditions for accommodation have strengthened since our May meeting.” Read More @ https://www.cnbc.com/2019/06/19/powell-some-fed-officials-believe-the-case-for-more-accomodative-policy-has-strengthened.html
TECHNICAL CHARTS – INDICATING A BREAKOUT SOON.
Donald Trump Has a Point About Mario Draghi and the Euro
All of this points to an important argument made by my colleague Ferdinando Giugliano, and which reflects the frustrations of Draghi himself as he prepares to step down in the autumn: The ECB should not be solely responsible for stimulating growth; Europe’s political leaders need to step up too. The single currency area is crying out for a proper fiscal policy, but politicians seem determined to wait for another crisis before galvanizing a credible response such as a proper joint budget. It would be unfortunate if a currency spat with Trump was the catalyst by driving the euro stronger. Read More @ https://www.bnnbloomberg.ca/donald-trump-has-a-point-about-mario-draghi-and-the-euro-1.1275267
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