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Fed Chair Powell

US TSY FUTURES
No market reaction to Fed Chair Powell's comments on Washington Economic Club virtual event so far, Tsys holding near recent lows, yld curves steeper.
Some early comments:
  • Economy at a bit of inflection point, going into period of faster growth and higher job creation; risk to improvement -- spike in virus mutations.
  • Too much focus on dot plot and not enough on outcome based. Three outcomes / goals need to be met: labor market recovery, inflation stable at 2% (not temporary), moving above 2%.

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