Jerome Powell: underscoring Yellen’s comments last week, dovish? - ANZ

Analysts at ANZ, noting that Jerome Powell is currently being interviewed for his Fed Chair confirmation, explained what it meant for markets today.

Key Quotes:

"He said “the case for raising interest rates at our next meeting is coming together...the conditions are supportive.""

"He added that is it still unclear if weakness in inflation is transitory, underscoring Yellen’s comments last week."

"In addition, he said that the balance sheet will be around $2.5-3.5trn over the next 3-4 years."