03
Sep
The Federal Reserve is poised to resume its rate cutting cycle in September. Markets briefly flirted with the idea of a 50-basis point move, but sticky core inflation, a larger-than-expected jump in producer prices, and firm retail sales have settled expectations at a quarter-point cut. The Fed continues to describe policy as restrictive, so this move will not be framed as easing but as removing a touch of that restrictiveness.
Most G10 central banks and many emerging-market peers have already...