083 – Powell delivers on hawkish tone at Sintra Symposium

<p>At the ECB’s symposium in Sintra, Portugal, Fed Chair Powell was hawkish, looking to align markets with the latest dot-plot projection of another two interest rate hikes for this year. US final GDP printed significantly higher than preliminary indications. Headline PCE declined but the core number was sticky. This week, the US celebrates its Independence Day holiday, with the first two days having light liquidity. Wednesday sees the FOMC minutes released, and Friday has the US non-farm employment change scheduled.</p> <p> </p>