Morgans AM - Tuesday, 18 February 2025

US Equity and Bond markets: Closed for Presidents Day. Outgoing Federal Reserve Bank of Philadelphia President Patrick Harker sounded an upbeat note on the state of the U.S. economy on Monday, and said he saw no reason to change interest rate policy right now as the central bank continued to work to lower inflation levels. This preceded comments by Fed Reserve Governor Bowman who noted that while monetary policy “is now in a good place,” she wants to see data reflect more progress on inflation before cutting interest rates further.