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Bloomberg Daybreak: Europe Edition
Fed Rate Cut Bets Shrink, Trump Weighs Second Debate & The UK's Prison Problem
Sep 12, 2024
Donald Trump, former President of the United States, shares his thoughts on potential future debates, expressing reluctance to engage further after a recent forum. The conversation also dives into the implications of tightening interest rates by the Federal Reserve, with inflation remaining a central issue. Additionally, Trump discusses political developments amid a climate of rising tension in the financial world, particularly regarding the detainment of top bankers in China and the challenges of overcrowded prisons in the UK.
19:45
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Quick takeaways
- The Federal Reserve is now expected to proceed cautiously with a 25-basis point rate cut instead of a larger reduction due to resilient inflation data.
- China's intensified regulatory crackdown on investment bankers highlights concerns over the stability and freedom of financial practices amidst a struggling economy.
Deep dives
Shift in Fed Rate Expectations
Recent economic data has led to a significant shift in market expectations regarding the Federal Reserve's interest rate policies. Core US inflation rose by 0.3% in August, pushing traders to scale back previously anticipated expectations of a half-point rate cut. Analysts, including JP Morgan's chief global strategist, suggest that the economy is experiencing a desired softer expansion, advising the Fed to proceed cautiously in adjusting rates to avoid harming consumer confidence. As a result, a 25-basis point cut is now being fully priced in for the next Fed meeting.
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Discover
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