Fed's Lockhart's comments: "Brexit clouded the economic waters" - ANZ

Analysts at ANZ noted that the Fed’s Lockhart's comments overnight.

Key Quotes:

“I’m comfortable with a cautious and patient approach to policy in the near term,” though “I still can imagine circumstances in which at least one policy move could take place [in 2016], and possibly two”.

"He also noted that Brexit is “a storm that has clouded the economic waters”. While offering a bit for all, the real message is we’re doing nothing for a while. Cheap money on offer equals more ‘Fun’ for equities, although speculation the IMF might be downgrading global growth estimates (again) is a reminder that the fundamentals tell a different story."