Keys of the week – 30 January 2023
Understand the macroeconomic events of the past week.The revival of the European cycle in spite of German fragility. The robustness of the French economy but a concern about real estate.…
Philippe Waechter's blog
Should the ECB become aggressive?
The ECB, after Christine Lagarde’s remarks at the February 3 press conference, is following in the footsteps of the Fed. Like the US central bank, the ECB has changed its…
The Federal Reserve takes over
At its January 25-26 meeting, the US central bank confirmed that it would raise interest rates as of its mid-March meeting. Above all, it indicated that very soon after it…
Central banks that adapt but do not create movement
At the central bank meetings this week, the change in tone and the measures announced have essentially reflected the end of macroeconomic catching-up. GDP has converged to a level equivalent…
Will the Fed ever be restrictive?
The options taken by the Fed at its meeting on December 15 validate investors’ expectations Anticipations that the Fed itself had forged with these same investors in recent weeks. We…
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’s new monetary policy
At Jackson Hole, Jay Powell, the Federal Reserve Bank president, spoke of the new Federal Reserve monetary policy. The Fed will target long run inflation at 2%. On the long…
Again , the Federal Reserve slashes its interest rate
The risk associated with coronavirus has provoked the state of emergency declared by the White House, forcing the Fed to collapse its intervention rate. The fiscal policy will have to…