, Columnist
No Drama for Powell, Not Enough for China
The Fed chair carefully avoided creating upheaval in his remarks to Congress. Beijing, however, could do with a change of story.
Sticking to script.
Photographer: Tierney L. Cross/BloombergThis article is for subscribers only.
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We have our story straight and we’re sticking with it. In the US, rates will probably come down this year, but not yet, and they almost certainly won’t rise. As for the data, it’s consistent with that, but nothing is guaranteed.