So much for the great divergence between economic systems led by the U.S. and China. In the monetary arena, they look more alike than at any point in recent years. Both the Federal Reserve and the People's Bank of China end 2019 signaling interest rates will stay at current levels with a bias toward cuts, if they have to do anything. Each is concerned with too-low inflation. They took different journeys to get here: The Fed cut rates three times before taking a breather, while China refrained from trimming its benchmark rate despite predictions it would. On a deeper level, the PBOC has evolved significantly as an ... (full story)