- July 14, 2021
- Posted by: Stratford Team
- Category: Business
BMO Global Asset Management U.S. CIO Ernesto Ramos addresses the state of the markets.
U.S. equity futures are trading mixed ahead of Federal Reserve Chairman Jerome Powell’s two-day testimony before Congress.
The major futures indexes suggest a slight decline on the Dow and a gain of 0.4% on the Nasdaq.
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Powell will deliver the Fed’s semiannual report to Congress on the economy. Investors will be listening for hints on monetary policy related to rising inflation. Central bank officials have said that they believe pricing pressures will be short-lived.
A report on Tuesday showed consumer prices in June rose by the most in 13 years.
WALL STREET ISN’T SO SURE INFLATION WILL BE TRANSITORY
The report adding to concerns that the Fed might consider withdrawing its low-interest rate policies and scaling back its bond purchases earlier than expected.
Traders will get another look at inflation when the Bureau of…