Greetings,
The United States: The Fed delivered the widely expected rate cut. The FOMC statement acknowledged the strength in consumer spending and softer business investment and exports. Two Committee members preferred to leave rates unchanged, while James Bullard (St. Louis Fed) wanted a 50 bps cut. Here are the changes in the statement from July.
Eurozone: Here is the composition of the ECB’s (Eurosystem) balance sheet.
Rates: The money market liquidity squeeze has been a headache for the Fed as the fed funds rate climbed above the upper limit.
Global Developments: The global Citi Economic Surprise Index is rapidly improving, driven by strong data in the US.
Food for Thought: The most hated office jargon:
Edited by Paul Menestrier
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