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On the surface, the US economy is performing well. But our Chief International Economist, James Knightley, says he understands why the US Federal Reserve is now cutting interest rates, as things might not be as good as they appear
If You’re Questioning the Fed’s Thinking, You’re Not Alone
The US Federal Reserve is now cutting interest rates, and it’s signalling there could be two more reductions this year. But, given that growth in the States is pretty good and unemployment is low, you could be forgiven for questioning the central bank’s motives. ING’s James Knightley, though, says the Fed is sensing that things might be shifting and perhaps not enough attention is being paid to a weakening labour market.
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