Last week’s 0.5 of a percentage point cut in US interest rates was larger than many people expected. The US government is switching from reducing inflation to growth. Panmure Liberum believes that this should be the start of a rate cut cycle.
There was one dissenting vote from someone who wanted a 0.25 of a percentage point reduction. Inflation is falling and the US authorities want to create more jobs and prevent the weakening of the economy. There are plans for significant investment in infrastructure.
If inflation returns, then there could be a change in interest rate policy. There a...
