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This week, stay close to a phone as global central bankers gather to find a solution to market crisis
Forgotten amid Donald Trump’s trade war insanity and diplomatic dumpster fires was Asia’s biggest fear entering into 2018: an aggressive US Federal Reserve.Six months into his Fed chairmanship, Jerome Powell has been the picture of calm, probity and reason. His team only raised interest rates twice, 25 basis points in March and another step in June to a target of between 1.75 per cent and 2 per cent. But is the Fed about to reprise its role as the Asian spoiler? The odds are rising with a US economy firing on all cylinders, and a US$1.5 trillion tax cut adding fuel. We’ll learn just how much on Friday,when ... (full story)