“It really requires joint intervention (with the U.S. Federal Reserve), and no U.S. official is going to sanction that in a presidential election year.”
“The services-oriented sector of the economy is still looking fairly robust, averaging a 3.9 percent increase year-on-year. This is above the trend rate of inflation so that is upward pressure for the retail price index.”
“This only adds to the feeling that central banks are willing to cut rates aggressively, and ahead of schedule. This is symbolic because it shows that things are moving ahead, although no one predicted they would move so far so fast.”
