05 July 2018
Markets and central banks
The dove in the dots: paving the way for a US inflation overshoot
At the June Federal Open Market Committee meeting, policymakers raised the target range for the federal funds rate by 25 […]
05 July 2018
26 March 2018
Markets and central banks
Trump’s China tariffs: consequences of the ‘America First’ trade agenda
President Trump signed an executive memorandum on Thursday, 22 March, instructing the US Trade Representative (USTR) to consider imposing tariff […]
26 March 2018
Markets and central banks
FOMC March 2018 – Chairman Jay Powell opens his account
A new era for US central banking began on 20-21 March as Federal Reserve chairman Jay Powell presided over his […]
09 March 2018
Markets and central banks
Will the Fed change its policy framework?
Monetary policymakers at the Federal Open Market Committee (FOMC) have a problem and they have not been shy about highlighting it: […]
26 February 2018
Markets and central banks
Five topics for US Fed Chair Powell
On 1 March, Jerome Powell of the US Federal Reserve will appear before the Senate Banking Committee and as the new […]
23 February 2018
Markets and central banks
January FOMC meeting minutes: change is coming, slowly
The minutes of the January Federal Open Markets Committee (FOMC) meeting reveal policymakers at the Federal Reserve becoming increasingly confident […]
10 February 2017
Markets and central banks
The tensions within ‘Trumponomics’
Donald Trump swept into office riding a pledge to bring manufacturing jobs back to the United States through a combination […]
15 December 2016
Markets and central banks
December FOMC: diluting the fiscal punch bowl
The decision on 14 December 2016 by the FOMC to raise the target range for the US federal funds rate […]
07 December 2016
Markets and central banks
The consequences of Carrier
The Carrier Corporation’s decision to limit planned offshoring of jobs to Mexico is unambiguously good news for the workers involved. […]
16 November 2016
Markets and central banks
The Trump tantrum in the bond market – will it continue?
The election of Donald Trump as the next US President has led to a significant regime shift in the outlook […]
10 June 2016
Thought leadership and the outlook
Why has market focus shifted from the Chinese yuan?
Since late March 2016, the People’s Bank of China (PBoC) has set the reference US dollar renminbi exchange rate (CNY) […]
27 May 2016
Markets and central banks
US taper tantrums and rate resets
In recent months, many investors have greatly reduced the odds of the Federal Open Market Committee (FOMC) maintaining a steady […]
26 February 2016
Markets and central banks
Outlook for US monetary policy – February 2016
Just two months after starting a policy tightening cycle in December, the Federal Open Market Committee (FOMC) finds itself in […]
19 February 2016
Markets and central banks
January 2016 FOMC minutes: uncertainty takes center stage
The January 2016 FOMC minutes portray a Committee wrestling with a more uncertain economic and policy outlook due to tighter […]
12 January 2016
Markets and central banks
December 2015 FOMC meeting: “gradual” guidance works its charms
On 16 December 2015 the Federal Open Market Committee (FOMC) took the historic step of raising the target range for […]
08 January 2016
Markets and central banks
December 2015 FOMC minutes: time to validate reasonable confidence
There was very little new information about the policy outlook in the December FOMC meeting minutes. On the surface, it […]
04 December 2015
Markets and central banks
The ISM schism
Weak global demand, low energy commodity prices and a strong US dollar have continued to put pressure on the US manufacturing and mining sectors in the US.
13 November 2015
Markets and central banks
Stick the landing
The FOMC appear to be attempting to ‘stick the landing’ despite the predicted challenge of a two-tenths fall in the unemployment rate in the next 2 years.
