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The US Federal Reserve held its target range for the Fed Funds rate unchanged yesterday, as widely expected, and the SNB -- one last cut, likely done in a highly uncertain environment.
Flash note
What is at stake, what to look for, and what are the implications?
The Fed acknowledges that fiscal dominance has arrived in the US
A tale of two central banks: the ECB navigates stagflation and the SNB fights deflation pressures coming from CHF strength
Flash note
Here's a summary of the Federal Reserve’s decision: 1. Interest rates cut by 50 bps for first time since 2020 2. Rate cuts 2 more 25 basis point in 2024 3. Fed governor Miki Bowman dissented in favour of a smaller 25 bps cut. It's the first dissent by a "governor" since 2005 4. Gained "greater confidence" that inflation is moving to 2% 5. Have an evolving outlook as "carefully assess incoming data" 6. Rate cuts of 100 bps in 2025 and 50 bps of cuts in 2026
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