Positive real interest rate: a new world opens
New regime change on the debt market, inflation and long-term interest rates are now on an equal footing. A little over two years ago, investors had to successively face a…
Philippe Waechter's blog
Inflation – Have central banks lost control?
Central bankers are meeting this week. The Fed will give its verdict on Wednesday while the ECB and Bank of England speak on Thursday.This series of meetings comes as inflation…
The Fed lowers its benchmark rate but stop there
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…
Some thoughts on US monetary policy*
The US central bank – the Federal Reserve – has trimmed its key interest rate again, marking a further step forward down a new track. Its monetary policy is now…
The Federal Reserve reduces its rate as expected
The Federal Reserve reduced its interest rate by 25 basis points. It is now moving in the 1.75 – 2.00% corridor. The median rate for 2019 remains at the current…
The Fed and the Global Environment
The change of the US monetary policy trend has been radical since the end of January.At its January 29/30 meeting, the Fed said it was no longer committing to one…
The Fed wants to remain agile
The end of the reduction of the Fed’s balance sheet is what we have to keep in mind after the publication of the minutes of the last FOMC meeting. It…
The Fed muddies the waters
The latest FOMC meeting on January 29 and 30 saw confirmation of the halt to monetary normalization, with the end to the Fed funds hike cycle and an easing in…