Could Asean be done waiting on the Fed?
Regional central banks have growing confidence in domestic-led monetary policies
IT WAS the kind of moment that would have once seemed preposterous. Palpable tension between a sitting US president and Federal Reserve chair over renovation costs (not even interest rates) playing out publicly in full view of the cameras. Awkward, much.
Beyond the viral clip of the uncomfortable exchange between Donald Trump and Jerome Powell, the episode underscores a rift that also carries serious broader risks with the big question: Could the steady hand of the Fed, long a compass for South-east Asia and the world, be starting to waver?
Call it a shift or a matter necessitated by domestic conditions, the rate playbook in Asean lately could provide some clues.
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