Powell’s Paradox – Cameron Hume’s Comments

As expected, the FOMC raised the Federal Funds Rate (FFR) by a further 0.25% points this week, taking the target range to 1.5% – 1.75%. This was Chair Powell’s first meeting as head of the FOMC and the event passed largely without surprise. However, we thought that there were some notable standouts from the meeting and take this opportunity to provide an update on our thinking on fixed income markets and the positioning in our clients’ portfolios.

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