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

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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