The Fed is boldly going where it was going before
With calm and poise, the Fed’s new chairman Jerome Powell delivered no surprises, no dramas, a little dose of bitter medicine, and a lot of hopes
Two weeks before that, both the OECD and the IMF warned that global economic expansion, while expected to continue into 2018, was running out of steam. Lower growth rates are expected for the 2019-2022 period. Worse, both organisations issued stern warnings about the adverse impact from the ongoing trade and currency wars, primarily driven by the US policies.
Adding to these woes, the domestic US economy has been returning mixed signals as well. Wall Street has...
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