US: Economy revving up - RBS

The US economy has been revving up and the data is currently indicating Q2 GDP running close to a very punchy 5% annualised pace, according to analysts at RBS.

Key Quotes

“Not surprising then that the Fed hiked rates last week for the second time this year, a move widely anticipated. It also indicated a slightly stronger pace of tightening this year (two more hikes) and three further next year. That wasn’t all. Fed Chairman Powell is consigning the often cumbersome language of central bankers to the dustbin it seems, promising to speak in plain English and hold more press conferences.”