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18 March 2021
4 min read

Australia's astonishing employment recovery

But first, the obligatory FOMC recap.

Powell stuck to the script last night as expected.

Forecasts acknowledged the potential for strong economic growth and some inflation above 2%...

The dots are just for show, employment is the focus, and they will definitely signal well in advance when the time to taper is coming...  

There is still a lot of internal uncertainty over their projections (which these charts from TD Securities highlight):

The 'all important' median dot hasn't moved...

Nothing in the press conference to suggest that the moves in longer-term yields are unwarranted (or a concern).

Also, nothing to suggest

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