Remarks by the chairman of the Fed, Jerome Powell, last week on the likely path of US interest rates are a bellwether for a global economy peeking through its eyes at the prospect of a second Trump presidency. Powell’s comments were pretty clear, especially for someone in his position. He said: “Our confidence is rising. We just want some more confidence before we take that very important step of beginning to cut interest rates.”  This caused markets to jump and, combined with some more than solid jobs data from the US, has a lot of people’s chins up. Major tech…

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