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  • 1 min

The Fed lowers its benchmark rate but stop there

  • 30 October 2019
  • Philippe Waechter
  • Federal Reserve
  • Interest Rates
  • Monetary Policy
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The Fed lowers its benchmark rate to 1.5-1.75%. It says it wants to take a break. It downplayed expectations of another cut this year. The three drops this year are consistent with the September dots’ graph. Now the real rate of the fed is negative while the unemployment rate is at 3.5%. Always a very strange configuration.

We are waiting for the press conference to find out what Powell will say about the money market, which is not stabilizing. There is a real concern.

On this latter point, the message from Powell was clear. Stay away, it is not your business. It’s a bit scary, isn’t it?

Related Topics
  • Federal Reserve
  • Interest Rates
  • Monetary Policy
On the same topic
  • 3 min

From Yesterday to Today – October 21 – The widening interest rate spread between the US and the Euro zone

  • 21 October 2020
  • Monetary Policy

Philippe Waechter

The 10-year interest rates in the USA and in the Euro zone now look divergent. The rate differential has widened by 20 to 30 basis points between the US and…
  • Covid-19 Impact on Growth
  • Interest Rates
  • Interest Rates spread
READ
  • 3 min

From Yesterday to Today – October 19 – The second wave and the risk of deflation in Europe

  • 19 October 2020
  • Monetary Policy

Philippe Waechter

The new measures on containment / curfew will influence the momentum of the activity. The uncertainty will create a wait-and-see attitude. Nothing to do with the general containment of the…
  • Covid-19 Impact on Growth
  • Deflation Risk
  • ECB
READ
  • 3 min

From Yesterday to Today – October 16 – Low interest rates for an extended period before inflation

  • 16 October 2020
  • Monetary Policy

Philippe Waechter

Low interest rates reflect the combination of fiscal and monetary policies. This is already translating into severe financial repression. Governments, more than central banks, will have an interest in a…
  • Financial Repression
  • Inflation expectations
  • Interest Rates
READ
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