Chair Jay Powell's testimony in front of Congress. Ulrich Leuchtmann, Head of FX and Commodity Research at Commerzbank, analyzes Powell’s remarks.Powell sounded at most as hawkish as he had done two weeks ago. That might not have been on purpose and due to the fact that Powell had to defend the pause in the rate cycle a number of times . To do that he had to use arguments that sounded rather dovish.
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