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Fed on rough road to normalisation, Economic outlook and challenges for East Asia

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Fed on rough road to normalisation, Economic outlook and challenges for East Asia

Commentary: Fed on rough road to normalisation

By Neil Williams in London

The Federal Reserve, presiding over a shrunken output gap and perkier wage growth, remains the test case for whether any central bank can ‘normalise’ interest rates. The likelihood is that US rates are already at or close to their summit. Even if the Fed surprises markets by raising rates again, this would still leave its official policy rate barely positive in real terms. While the road to ‘normal’ looks closed off in interest-rate terms, overall policy neutrality could, in principle, be achieved through other means. In practice, however, it won’t.

Read the full commentary on the website.

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Meeting: Economic outlook and challenges for East Asia

Monday 13 May, London, 10:30 GMT

Hoe Ee Khor, chief economist at the Asean+3 Macroeconomic Research Office, will discuss the economic outlook and challenges for East Asia. These include regional economic integration, the impact of China’s economic slowdown and related trade risks, developments in the region’s financial markets and the influence of global financial conditions. He will also discuss the difficulties of building capacity and connectivity to sustain longer-term growth.

Request to attend the meeting.

 

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