Market expectations test Fed mettle, Living in a world on fire
Commentary: Market expectations test Fed mettle
By Darrell Delamaide in Washington
All eyes will be on Federal Reserve Chair Jerome Powell when he goes to Capitol Hill this week for his twice-yearly testimony before Congress. The critical issue is whether a strong jobs report will prompt him to temper his dovish hints about cutting rates to sustain expansion. Fed funds futures still show a 100% chance of a quarter-point rate cut at the next meeting of the Federal Open Market Committee at the end of this month. The question is whether the Fed will have the mettle to defy market expectations and hold rates steady.
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The Bulletin: Living in a world on fire
The only way seriously to transform the global economy is through urgent policy changes. Thankfully many influential policy-makers understand the urgency of climate action. The challenge they face is nothing short of renovating modern capitalism so that it no longer unduly rewards the extraction of fossil fuels. Continuing down the current path is unconscionable. Contributors to this edition of The Bulletin include Sarah Breeden, executive director for international banks supervision at the Bank of England’s Prudential Regulation Authority, and Ma Jun, chair of China’s Green Finance Committee.
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