I'm trying to find a few pundits who are not calling for a US Federal Reserve rate hike, jus to balance out the ones I'm posting who are saying there will be
Bill Evans of WPAC is looking for a December hike, for example
And so to is Axel Weber, chairman of UBS
Fear not, though, non hikers .... all is not lost! On Friday I posted comments from Dr. Richard Clarida, PIMCO's global strategic advisor who said Let's Call the Whole Thing Off?
OK, but back to Weber:
- "The Fed is more in a mode where, rather than gearing monetary policy to the most likely development of the economy, they're in a risk management mode still"
- "The underlying economic data in the U.S. warrants a rate hike"
- "The Fed-unlike in the past-seemed to be focused on more global developments, also the impact of global developments on [domestic] inflation"
- "The Fed is always concerned about financial stability in a more abstract, domestic sense, rather than global financial stability... It's more that the downturn in the global economy, and in particular of emerging markets and commodities, is going to have an additional impact on [U.S.] prices."
