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Federal Reserve Governor Christopher Waller said the recent weak jobs report does not change the strong economic trend and that the recent unexpectedly high CPI inflation is driven by temporary factors. He argued accommodative monetary policy remains necessary to support recovery.
Signals that the Fed will keep money loose for longer, supporting commodity prices and a softer dollar. Temporary inflation framing lowers the near-term risk of rate hikes that would pressure commodities.
bis.orgChristopher J WallerMay 17, 2021After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
