The markets will most likely continue to trade range bound for the week as participants are awaiting the conclusion of the G-20 meeting in Japan – mainly the discussion between Presidents Trump and Xi. Nevertheless, the markets today heard again from Jay Powell, Chairman of the Federal Reserve, where he made comments indicating the “independence” of the Fed by declaring that the Fed is “insulated” from short-term political pressure. Of course he was referencing the many attacks from President Trump and his administration, where they have been calling-out the Fed for not cutting interest rates like the rest of the world. Even so, we have President Kaplan of the Dallas Fed stating that a cautious approach would be prudent, as he sees the possibility of lower interest rates causing excesses and malinvestments. WOW! Exactly what The Kapital News has been saying since our existence. Too little, too late for the Fed, but hey, at least they’re finally make some sense (not really). Of course the markets sold-off today on the back of these comments from Powell and Kaplan because the markets viewed it more a touch of the hawk as opposed to the dove.