SBP editorial: Trump antics risk undermining Fed

SBP editorial: Trump antics risk undermining Fed

Financial markets are unpredictable. Stocks go up and down, investors come and go, profits rise and fall. Yet rarely can investors’ reaction to a cut in interest rates have been as capricious as last week’s fall in the world’s stock markets after the US Federal Reserve cut rates for the first time in over a decade.

After months of signalling, the Fed reduced its benchmark interest rate on Wednesday by 25 basis points....

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