Powell waxes maximum dovish at Jackson Hole, but how long will it matter?
Saxo Market Call
Summary: Today we look at the speech by Fed Chair Powell at the Jackson Hole symposium on Friday, at which he waxed about as dovish as was humanly possible in laying out the case that inflation will prove transitory. We challenge that notion and question whether the market reaction on the back of the speech will stick beyond the nearest term when we look at how Q4 may shape up for the US treasury market. A look at earnings this week, Hurricane Ida concerns, highlights of the busy economic calendar for the week ahead and more are also on the pod today, which features Peter Garnry on equities and John J. Hardy hosting and on FX.
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Outrageous Predictions 2023: The War Economy
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A country agrees to ban all meat production by 2030In an effort to become one of the global leaders on the path to net-zero emissions, one country decides to not only put a heavy tax on meat, but to ban domestic production entirely.
UK holds UnBrexit referendumFollowing a recession and domestic pressure, the United Kingdom is thrown into political turmoil that will end with a vote to wind back Brexit.
Widespread price controls are introduced to cap official inflationHistory tells us that with the war economy comes rationing and price controls. And this time is no different, as policymakers introduce strict price controls that lead to a range of unintended consequences.
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