ANZ preview the September 2019 Federal Open Market Committee decision
- A 25bp rate cut from the FOMC at its September meeting looks a sure thing, amid escalating trade tensions and further cracks in global growth
And, further out, slot in another cut before year end:
- We now expect the FOMC to cut by a further 25bps again before year's end. The risks are for more easing than we anticipate
- The Fed's future monetary policy path remains highly uncertain. Indeed, as Fed Chair Powell indicated at Jackson Hole, there are no precedents to guide policy in response to this challenging geopolitical environment.
ANZ produce a global leading index, and its ain't pretty right now:
