Fed fights back against inflation hawks; NZ$ over 74 USc; new J&J vaccine

The US Federal Reserve chair Jerome Powell sought to hose down a revolt in the bond markets this morning, saying the world’s most powerful central bank would keep printing.

Bernard Hickey

Thu, 25 Feb 2021

TLDR: Morena. US bond markets continued their worrying sell-off overnight, forcing the Fed to pledge again to keep pumping cash into the market. That helped US stocks reverse losses. Elsewhere, the NZ dollar hit another near-four-year high this morning after the Reserve Bank didn’t push back so hard at the inflation hawks. There was also good vaccine news, but local small businesses saw their first revenue falls since the middle of the lockdown in May.Fighting the Fed. US Federal Reserve chair Jerome Powell sought to hose down a revolt in...

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