UBS On-Air: Paul Donovan Daily Audio 'Profits, pricing, and poorer sales data'

Federal Reserve speakers yesterday suggested US interest rates may have to rise above 5 percent. The real question is how long profit-driven inflation can survive in the face of catastrophically negative real income growth, with savings stockpiles being eroded. Fed Chair Powell is speaking today on central bank independence - neither the subject nor the speaker lend themselves to insightful economic analysis.