020 7898 0500If yesterday was quiet for economic data then today promises to be almost exactly the same. However, given that we have the inflation rates and Federal Reserve interest rate decision set for release tomorrow it is only fair that the US takes a breather.
It is widely expected that the Fed will increase rates by 25 basis points and such a hike has already been priced in by the market. What will be of interest, is what Chair Janet Yellen says in her last speech as Chairman of the Federal Open Market Committee.
She is set to be replaced by Jerome Powell next year, as Donald Trump made clear he wanted a Republican as Fed Chair. Powell will be the first Chair without an economics degree for 30 years and one wonders whether Trump is attempting to influence fiscal policy in the future.
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