-
“A lack of further progress” on the inflation front since the start of the year led the Federal Open Market Committee to hold the fed funds target range at 5.25%-5.50% for a sixth straight meeting on May 1. Data in the three months proceeding the FOMC's May meeting showed core PCE inflation strengthening to a 4.4% annualized clip, more than double the pace ...
-
Major central banks are gearing up to cut interest rates. But like their hiking cycles, this cutting cycle will be far from typical, we think. Why? The ECB is set to start easing before the Fed, but a wider policy gap between them will be temporary, in our view, even if a Fed hike is not impossible. Central banks are eyeing rate cuts with inflation still ...