A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
Richard Harris
Opinion

Opinion

The View by Richard Harris

Market analysis in one question: has the Fed lost the plot on inflation?

  • Investors remain assured that central banks will issue more debt if things turn sticky, but they will take flight the moment they sense the Fed has lost control of inflation and will have to raise interest rates

Richard Harris
Richard Harris

Updated: 1:41am, 2 Jul, 2021

Why you can trust SCMP
A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
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Richard Harris

Richard Harris

Richard has pioneered Asian investment management at senior levels for companies such as JP Morgan, Citi, BNY Mellon and several start-ups. He has 40 years of experience in a full range of investment and capital markets activities. He is CEO of Port Shelter Investment Management.