Darrell Delamaide on the Fed, David Marsh on the ECB, and more
THE WEEKEND REVIEW
Latest opinion and analysis from OMFIF around the world
8-12 July 2019, Vol.10 Ed.28
Market expectations test Fed mettle:All eyes will be on Fed Chair Jerome Powell this week when he gives his twice-yearly congressional testimony, writes Darrell Delamaide. Fed funds futures still show a 100% chance of a rate cut at the end of this month. The question is whether the Fed will have the mettle to defy market expectations.
Living in a world on fire: Policy-makers understand the urgency of climate action. The Network for Greening the Financial System illustrates well the increasing attention that world leaders are paying to the damage climate change is wreaking. The challenge that they face is nothing short of renovating modern capitalism. Read more.
ECB deal ‘unbalanced’ for Germany:
Christine Lagarde’s nomination to succeed Mario Draghi as ECB president has been greeted by some in Germany as boosting the institution’s status, writes David Marsh. Other interpretations, for the Germans, are less positive. Officials point to the unbalanced nature of last week’s agreement. Read more.
New Democracy, old challenges:
Kyriakos Mitsotakis, leader of Greece’s victorious New Democracy party, inherits an economy that is growing and bond yields at all-time lows. But on three important economic fronts, he must take action to ensure Greece’s crisis is truly left in the past, writes Danae Kyriakopoulou. Read more.
British and German financial diplomacy: Jakob von Weizsäcker, chief economist in Germany’s finance ministry, discusses the state of the German economy. Along with the UK Treasury, the speakers will outline how Britain and Germany can build on their economic and financial links even as the UK gears up to leave the EU. Read more.