September 16, 2024
United States:
Fed Ready to Unshackle US Economy With Soft Landing at Stake
The Federal Reserve will begin a crucial pivot this week, lowering interest rates for the first time in more than four years as it pursues a rare soft landing for the US economy.
With inflation seemingly under control and weakness showing in the US labor market, officials are widely expected to drop their benchmark lending rate by at least a quarter percentage point when they wrap up a two-day gathering on Wednesday. Traders — plus economists at JPMorgan Chase & Co. and former New York Fed President William Dudley — are even preparing for a larger, half-point move.
Europe:
ECB’s Monetary-Policy Review Will Touch on Toolbox, Lane Says
The European Central Bank’s monetary-policy strategy review will focus on what happens to the economy after the pandemic and what officials can learn for policymaking, according to Chief Economist Philip Lane.
“Our 2025 assessment will consist of two broad strands: economic developments since the pandemic; and the implications for monetary policy,” he said in a speech on Monday in Luxembourg — confirming an earlier Bloomberg report.
Asia:
Chinese Stocks in Hong Kong Swing to Gain as Stimulus Calls Grow
A gauge of Chinese stocks listed in Hong Kong swung to a gain in volatile trading as investors debated whether weaker macro data will prompt the government to bolster stimulus.
The Hang Seng China Enterprises Index closed up 0.3% after earlier sliding as much as 1.3%. Property shares were among the biggest decliners, with a gauge of the sector dropping as much as 1.8%, while utility stocks rose. Mainland markets are shut until Wednesday for holidays.
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