Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

The global economy needs an end to the US-China trade war and increased spending on public services – not more interest rate cuts

  • The world has been awash with easy money for a decade and interest rates are already dangerously low. To boost bonds and reward savers, global stimulus should involve more coordinated spending on infrastructure, health and education

Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.