All Insights

In a week with a U.S. presidential election and market volatility, the Federal Reserve cut its policy rate 25basis points (bps) as expected. Amid this noise and the generally positive messages from recent macro data, Fed Chair Jerome Powell emphasized that downside economic risks had decreased, but the policy rate remains above neutral, suggesting that gradual cuts are still likely to come over time. Although he declined to provide guidance about the rate decision at the December meeting, he did

Global economies are normalizing and central banks are cutting rates, we identified four themes investors should focus on as we head into 2025.

The growth outlook has turned weak enough for the European Central Bank (ECB) to deviate from the quarterly cutting trajectory and make its first move outside a staff projection meeting. As the ECB had been guiding towards December at its previous monetary policy meeting, and the amount of data received since the September rate cut has been sparse, risk management considerations seem to have played an important role.From a risk management perspective, the ECB likely believes that upside shocks t