UBS On-Air: Paul Donovan Daily Audio 'Consumer patterns'
Federal Reserve Chair Powell speaks. It would be helpful to hear an assessment of what the Fed actually thinks is happening given structural economic changes, cyclical impulses, and poorer quality data. An explanation of how the Fed thinks higher rates will change profit-led inflation would also be nice. Instead, we are likely to get unhelpful platitudes; "Payrolls high. Hike, hike, hike."