A few analyst takes on Powell coming through....>

FED: A few analyst takes on Powell coming through. Here's JPMorgan:

- Powell firmly supported expectations of another easing in September, with

perhaps more to come.

- The key sentence in the remarks was: "Along with July's cut, the shifts in the

anticipated path of policy have eased financial conditions and help explain why

the outlook for inflation and employment remain largely favorable." This

suggests that failing to meet that anticipation in the near term would result in

a less favorable outlook.

- The tone of the remarks is a fair bit more dovish than the recently released

minutes to the July FOMC meeting.

- The only very mildly hawkish note in the address was the concern expressed

about possible financial overheating, though such risks were judged to be

"moderate."