Federal Reserve head Powell speaking , all very rate hike sort of stuff (not surprisingly)

  • very happy about where the economy is
  • unemployment lowest in 20 yrs
  • inflation right at our 2% goal
  • remarkably positive set of economic circumstances
  • working hard to sustain expansion
  • expansion can continue for quite some time
  • gradually raising rates to ensure inflation stays tame
  • expect to see continued gradual rise in wages

As I said in the bracket above, nothing surprising from Mr. P

He was catapulted into the job at a good time. Now he just has to not *** it up, which of course is challenge.

more:

  • need rates to be gradually moving back to normal
  • We're a long way from neutral rates
  • Interest rates are still accommodative
  • We may go past neutral