There’s still much head scratching among investors over the Fed’s pivot to dovishness. Indeed, since Chairman Jerome Powell’s testimony last week, US inflation has edged higher, retail sales have picked up, and regional manufacturing surveys have bounced. This divergence between the economy and the Fed’s new stance could lead to a policy error. At least, that’s what renowned global economist Phil Suttle argues in our lead special report. I learnt a lot from Phil in my early days at JPMorgan, and thoroughly recommend checking out his other writing, too…
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