Rates are essentially unchanged this morning as some of last week’s volatility has subsided. Chairman Powell did acknowledge that inflation has been higher than expected recently but reiterated that the central bank believes these price increases are temporary. In his testimony before the House, Powell stated that categories such as used cars and trucks were a large part of the “overshoot in inflation” and further noted that they are “things that we would look to stop going up and ultimately to start to decline.”
Hafizan Hamzah
Director, Investment Management Group
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