Good morning. President Donald Trump lashed out at Fed chair Jay Powell yesterday after Powell emphasised the risks posed by tariffs in a speech on Wednesday. Before Trump, it would have been unusual, and even alarming, for a president to openly rail against the Fed chair. But the market seems to be well prepared for such skirmishes: the S&P 500 was flat yesterday, and yields on the 10-year Treasury only ticked up 5 basis points.
早上好。美國總統唐納德?特朗普(Donald Trump)昨日抨擊了美聯儲主席杰伊?鮑威爾(Jay Powell)，此前鮑威爾在周三的演講中強調了關稅帶來的風險。在特朗普之前，總統公開指責美聯儲主席是罕見甚至令人擔憂的。但市場似乎對此類爭執已有充分準備：標普500昨日持平，10年期美國國債收益率僅上升了5個基點。
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