Daily Alert: Powell comments on inflation spooks markets

  • The final November ANZBO survey did not show signs of a pending Traffic Light Boost
  • Swings in market sentiment have continued, with concerns over the efficacy of current vaccinations to the Omicron variant and hawkish comments by FOMC Chair Powell instilling a risk-off tone in markets overnight.
  • Powell noted it was time to drop “transitory” to describe US high inflation that could linger well into 2022.

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