September 17, 2025
United States:
Fed Rate Cut to Mark Pivot Toward Job Market
Federal Reserve officials are expected to backstop a faltering US labor market by lowering interest rates Wednesday, marking a shift after worries about tariff-induced inflation kept them on hold all year.
The policy pivot will take place amid unrelenting pressure from President Donald Trump, who has pushed for a “big cut” this week. Political drama has also introduced suspense about who would even be in attendance at this week’s policy meeting, though the lineup was likely finalized Monday night when the Senate confirmed a new Fed governor and a late court ruling allowed another official to remain in place for now.
Europe:
Incoming ECB Rate-Setter Pereira Says He’s ‘Definitely’ No Dove
The European Central Bank is likely to maintain steady interest rates in the months ahead, according to incoming Governing Council member Alvaro Santos Pereira, who described himself as “definitely not a dove.”
“It’s important for the ECB to have inflation under control,” Santos Pereira told lawmakers in Lisbon on Wednesday during a hearing before his swearing-in as Bank of Portugal governor, expected this month.
Asia:
Chinese Fiscal Spending Slowdown Persists in Risk for Economy
China’s government spending increased at a slower rate for the second straight month, underscoring how weaker fiscal support now presents a risk to an economy whose momentum is cooling across the board.
Total expenditure under the country’s two major fiscal books climbed just 6% last month from a year earlier — the slowest since May — to 2.7 trillion yuan ($380 billion), according to Bloomberg calculations based on data published Wednesday by the Ministry of Finance.
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