Weekly comment MM Prime TFI - July 23, 2018
The last week was marked by the small volatility and the calm trade on the global financial markets. Of course, there were some interesting economic events and controversial statements by Donald Trump, however, these did not have a major impact on the stock market indices. Jerome Powell presented a half-year report on the Fed’s monetary policy. During the speech, the bank’s chief expressed his optimism about the further condition of the American economy and confirmed the Fed’s readiness to continue the process of the monetary tightening. Nevertheless, the market had already discounted the increasingly hawkish attitude of the bank. On the other hand, Donald Trump criticized the Fed’s monetary policy and announced the US may extend the scale of protectionism.