US President Donald Trump looks on as Jerome Powell, then his nominee to become chairman of the Federal Reserve, speaks at the White House in Washington on November 2, 2017. Although Trump urged the Fed to cut interest rates last week, the bank announced it was holding them steady. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

Donald Trump should back off from pestering the Fed, but central banks could cut interest rates further

  • With the US economy still showing signs of vulnerability, money markets are factoring in the possibility that the Fed will cut rates. A coordinated move by central banks in China, Japan and Europe to slash rates would benefit the global economy

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US President Donald Trump looks on as Jerome Powell, then his nominee to become chairman of the Federal Reserve, speaks at the White House in Washington on November 2, 2017. Although Trump urged the Fed to cut interest rates last week, the bank announced it was holding them steady. Photo: Reuters
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A US flag flying at the Port of Long Beach, in Los Angeles county. In the first three months of the year, the US economy expanded at a better-than-expected 3.2 per cent on an annualised basis. Photo: AFP
Kerry Craig
Opinion

Opinion

Macroscope by Kerry Craig

The US economy still leads the pack, but not for long as spectre of trade war with China recedes

The US economy started the year with a bang but growth is likely to flatten out over the year. Meanwhile, Asia is looking up as a US-China trade deal appears imminent. 2018’s economic divergence is unlikely to continue

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A US flag flying at the Port of Long Beach, in Los Angeles county. In the first three months of the year, the US economy expanded at a better-than-expected 3.2 per cent on an annualised basis. Photo: AFP
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