Six months ago the world's major central banks were primed for a move that anyone with a credit card or hoping to buy a home or run a business would cheer: A...
WASHINGTON - Six months ago the world's major central banks were primed for a move that anyone with a credit card or hoping to buy a home or run a business would cheer: A global shift to lower interest rates that would make borrowing cheaper and loans more available across the board.
After rapidly raising interest rates in 2022 and 2023 to fight inflation, the initial move to loosen policy will be "consequential," Powell said at a press conference last week when new projections from Fed policymakers showed them anticipating only a single quarter-percentage-point rate cut by the end of the year, down from the three projected in December and March.
Accordingly, the BoE is expected to keep rates on hold in its last policy meeting of Prime Minister Rishi Sunak's term - meaning that the move towards lower borrowing costs will await Britain's next government instead. But for now, ECB President Christine Lagarde and her team remain broadly confident that inflation will still tick down to the 2% target by the end of 2025.
The current strict language about cuts, from Powell at least, may even be more about managing expectations than they are about the actual outlook - of keeping the door open for rates to stay where they are longer again still than anticipated. Donald Trump's Fixation with Former “The Apprentice” Contestant Jennifer Murphy Explored in New Book
WASHINGTON — Three months into the coronavirus pandemic, Dr. Anthony Fauci was at home in northwest Washington when he answered his cellphone to President Donald Trump screaming at him in an expletive-laden rant. He had incurred the president’s wrath by remarking that the vaccines under development might not provide long-lasting immunity. That was the day, June 3, 2020, “that I first experienced the brunt of the president’s rage,” Fauci writes in his forthcoming autobiography.
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