NEWS ANALYSIS
·
SUBSCRIBERS
US central bank’s ‘new phase’ suggests the party is over for Wall Street
Before the December meeting, US financial markets had been drunk on rate-cut euphoria over the last three months
Published Thu, Dec 19, 2024 · 11:17 AM
THE Grinch arrived early to steal Wall Street’s Christmas this year.
At its December meeting on Wednesday (Dec 18), the US Federal Reserve cut interest rates by a quarter of a percentage point to a range between 4.25 and 4.5 per cent – a decidedly hawkish cut.
The central bank unexpectedly shifted from a focus on economic support back into inflation-fighting mode.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
