Yesterday Federal Reserve (Fed) Chairman Jerome Powell announced that the central bank will lower interest rates for the first time since the 2008 recession. This measure will be put in place to prevent the possibility of an economic slump, according to Powell but it is not the start of a lengthy easing cycle.
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- Economists expect a US recession by end-2021 – NABE survey
- Eurozone annual inflation down to 1.0% in July
- Eurozone current account surplus increased in June
- UK households more cautious about major purchases - IHS Markit