Fed’s fine line and why Rod Duke doesn’t like debt - Markets with Madison

United States Federal Reserve Chairman Jerome Powell aimed to please this week, maintaining his determination to hose down inflation while the US banking system is figuratively on fire.

The Federal Open Market Committee increased interest rates for the ninth consecutive time, choosing a 25 basis point move to take the target range for the federal funds rate to 4.75 to 5 per cent - its highest level since 2007.

Milford Asset Management portfolio manager Mark Riggall told Markets With Madison Powell struck the right balance between price stability and financial stability, despite all major Wall Street indices losing at least 1.6 per cent on the day.

“I think he’s getting better at his job.”

Meanwhile, New Zealand retailers have reported half and full year results in the past week, with one major big box retailer coming up short.

The Warehouse Group posted a 60 per cent drop in profit for the six months ended January, and confirmed a restructure was underway with 340 jobs set to go.

In comparison, KMD Brands and Briscoe Group posted record figures.

Briscoes managing director Rod Duke said it “had to work a bit harder,” last financial year, but it always came down to “offer and proposition”.

Speaking to Markets with Madison, Duke explained why Briscoes frequently rolled out promotions to customers and how he felt about business debt.

Get investment analysis and insights from the experts on Markets with Madison every Monday and Friday on the NZ Herald.

Disclaimer: The information provided in this programme is of a general nature, and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.