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Why is Jerome Powell in such a hurry to cut policy rates?
In his speech at the Jackson Hole symposium on 23 August, Jerome Powell said that "the time has come for policy to adjust". With this speech, he changed his assessment of risks. For approximately two years now, the Fed has been focused on upside inflation risks. Henceforth, downside risks to employment conditions will dominate as negative signals accumulate. Distinguishing in real time between the onset of a recession and a mid-cycle slowdown is the most formidable question to be...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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