US Federal Reserve chairman Jerome Powell holds a news conference on March 20 following the two-day Federal Open Market Committee policy meeting in Washington. Members indicated no new rate hikes for 2019, a sharply dovish turn at odds with the consensus from just three months earlier. Photo: Reuters
Tai Hui
Opinion

Opinion

Macroscope by Tai Hui

What inflation? In the US, a strong dollar, steady oil prices and low wage growth are keeping it low - for now at least

  • The Federal Reserve has declined to commit to additional rate hikes because inflation hasn’t accompanied US growth. If that changes, though, the pain could be serious

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US Federal Reserve chairman Jerome Powell holds a news conference on March 20 following the two-day Federal Open Market Committee policy meeting in Washington. Members indicated no new rate hikes for 2019, a sharply dovish turn at odds with the consensus from just three months earlier. Photo: Reuters
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US Federal Reserve chairman Jerome Powell speaks during a press conference in Washington on March 20. The Fed left interest rates unchanged after its two-day policy meeting. Photo: Xinhua
David Brown
Opinion

Opinion

Macroscope by David Brown

The Federal Reserve has halted policy normalisation. Now, other central banks should follow suit

  • The Fed’s decision to stop interest rate rises and the shrinking of its balance sheet this year should be a cue for central banks in Europe, Japan and particularly China to take steps to bolster economic activity

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US Federal Reserve chairman Jerome Powell speaks during a press conference in Washington on March 20. The Fed left interest rates unchanged after its two-day policy meeting. Photo: Xinhua
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