Fed: a typology of rate cuts

For the past six months, the Fed has described itself as "patient", i.e. determined not to change its monetary policy either way. This expression has disappeared from recent statements by Jerome Powell and his colleagues. Although the US economy is strong, it faces downside risks, mainly due to the unpredictable tariff initiatives of the Trump administration. For a time, Mexico took China's place at the top of the list of countries to punish. Since the Fed’s mission is one of mac...