Federal Reserve chair Jerome Powell prepares for a House Financial Services Committee hearing in Washington on December 2 last year. The Fed’s ultra-loose monetary policy settings remain the order of the day even though they may have undesired side-effects. Photo: Reuters Federal Reserve chair Jerome Powell prepares for a House Financial Services Committee hearing in Washington on December 2 last year. The Fed’s ultra-loose monetary policy settings remain the order of the day even though they may have undesired side-effects. Photo: Reuters
Federal Reserve chair Jerome Powell prepares for a House Financial Services Committee hearing in Washington on December 2 last year. The Fed’s ultra-loose monetary policy settings remain the order of the day even though they may have undesired side-effects. Photo: Reuters
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

On financial risk, People’s Bank of China is more credible than the US Fed

  • In draining cash from the banking system ahead of Lunar New Year, the PBOC is sending a message of caution. In contrast, the Fed is underplaying the connection between cheap credit and a stock market frenzy in the US

Neal Kimberley
Neal Kimberley

Updated: 12:04am, 3 Feb, 2021

Why you can trust SCMP
Federal Reserve chair Jerome Powell prepares for a House Financial Services Committee hearing in Washington on December 2 last year. The Fed’s ultra-loose monetary policy settings remain the order of the day even though they may have undesired side-effects. Photo: Reuters Federal Reserve chair Jerome Powell prepares for a House Financial Services Committee hearing in Washington on December 2 last year. The Fed’s ultra-loose monetary policy settings remain the order of the day even though they may have undesired side-effects. Photo: Reuters
Federal Reserve chair Jerome Powell prepares for a House Financial Services Committee hearing in Washington on December 2 last year. The Fed’s ultra-loose monetary policy settings remain the order of the day even though they may have undesired side-effects. Photo: Reuters
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Neal Kimberley

Neal Kimberley

UK-based Neal Kimberley has been active in the financial markets since 1985. Having worked in sales and trading in the dealing rooms of major banks in London for many years, he moved to ThomsonReuters in 2009 to provide market analysis. He has been contributing to the Post since 2015 and writes about macroeconomics from a market perspective, with a particular emphasis on currencies and interest rates.