Fed Rate Calls Reflect Echo Chamber, Says Standard Chartered
Dow Jones
3 hours ago
0140 GMT - Standard Chartered says that it is finding it hard to go against market expectations for interest rate increases by the Federal Reserve. Steven Engander, co-head of FX Research at SC, says he can only imagine how hard it is for Fed Chairman Kevin Warsh to stare down the market. Yet there seems to have been a market echo chamber pushing up expectations despite a limited amount of incoming data, and little sign that inflation is going up, he adds. Some indicators suggest that underlying inflation is much lower if tariffs are removed, he adds. There is a very low cost to waiting, he says.
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