SAN FRANCISCO: The bar for cutting U.S. interest rates may get a little lower next year when a new crop of central bankers rotate into voting spots on the Federal Reserve's policy-setting panel as part of its annual membership reshuffle.
Next year will be a different story, says Oxford Economics' Gregory Daco, who expects a cooling economy, sub-2per cent inflation and persistent trade tensions to force a reassessment of the Fed's outlook in the early part of the year. Also making a rate cut more likely, he said, is that starting in January, rate-setters will be a"slightly more dovish group that is likely to favor more easing in the event of a deteriorating outlook.
Rotating in are Cleveland Fed President Loretta Mester, who opposed all three rate cuts, and Philadelphia Fed President Harker, who went along with the first rate cut but opposed the other two. Joining them will be Dallas Fed President Robert Kaplan, who backed the 2019 rate cuts, though in October it was on condition the Fed made it clear no more were likely unless conditions worsen.
"On net, the committee will be slightly less hawkish," said Michael Brown, principal U.S. economist for Visa, meaning voters could be more open to rate cuts than otherwise.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More Tokyo 2020 events rescheduled to beat the heatTokyo 2020 organisers said on Thursday two more Olympic events, the triathlon and equestrian cross-country, have been rescheduled to earlier start ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Taylor Swift Documentary ‘Miss Americana’ to Debut on Netflix in Early 2020Taylor Swift will be the subject of a new documentary called “Taylor Swift: Miss Americana” that Netflix will release in early 2020, the streamer announced Wednesday.News of the documentary film first came as part of the lineup for the 2020 Sundance Film Festival, where the movie will make its world
Source: YahooSG - 🏆 3. / 71 Read more »
Watson, Stewart among faces of Juliet in Pirelli's 2020 calendarVerona, Italy – Actresses Claire Foy, Emma Watson and Kristen Stewart are the faces of Juliet in the 2020 Pirelli calendar, giving a nod to Shakespeare’s tragic literary heroine for the just-released 47th edition. Photographed by Italian photographer Paolo Roversi, the...
Source: thenewpaper - 🏆 7. / 63 Read more »
Singapore Reit hopes to reopen damaged Festival Walk mall in Hong Kong in early 2020SINGAPORE (THE BUSINESS TIMES)- Mapletree North Asia Commercial Trust said it hopes to soon reopen the Festival Walk mall in Hong Kong that was damaged during widespread protests.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Hong Kong's Festival Walk mall working towards 2020 reopening after protest damage: Singapore REITHONG KONG: Hong Kong's Festival Walk shopping mall is working towards either a partial or full opening by March next year, after it suffered ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Pantone's colour of the year for 2020 is Classic BlueNEW YORK — The people at Pantone know that times are hard.
Source: TODAYonline - 🏆 1. / 99 Read more »