Market enthusiasm for a big Fed rate cut lacks conviction
Kia ora,
Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.
I'm David Chaston and this is the international edition from Interest.co.nz.
Today we lead with news of a big call by the US Federal Reserve.
First up you should know that the US Fed cut its benchmark policy rates by -50 bps, to the 4.75%-5.00% range, a larger cut that most professional observers had anticipated, but in line with some advance financial market pricing. (And it might be notable, that for the first time in almost 20 years, one voting member dissented…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.