Who Let the Doves Out?
Jerome Powell surprised many with a dovish tilt at Jackson Hole. NAB's Ray Attrill talks us through it.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 25th August July 2025
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Fed chair Jerome Powell surprise markets on Friday when his speech at Jackson Hole had a decided dovish tilt to it. Bond markets reacted but, as NAB’s ray Attrill explains, it didn’t move pricing too much for a September cut. The question is whether more will follow, particularly if the US President manages to oust Lisa Cook and get one of his sympathisers in there. If that forces a faster pace of cuts Ray believes markets will become concerned about inflation becoming unanchored. For now, though, equity markets are happy, particularly the Russell2000 which soared 3.9 percent on Friday.
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