Wednesday 23rd June 2021Jerome Powell has been giving is testimony on Capitol Hill and he, like all the Fed speakers over the last 24 hours, has been trying his hardest to calm the markets and reassure them that inflation won’t last, so the Fed won’t be tapering soon or bringing forward rate increases. It seems to be working, with another day of a weakening US dollar and rising equities. This week tentatively suggests that the global reflation trade is not dead, says NAB’s Ray Attrill on today’s podcast. Plus, loads of PMIs today, for Australia, Europe and the US, we look at the winners and losers. And the first words from the RBA since those strong jobs growth numbers last week.

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