Global Economic Briefing_ The Weekly Worldview_ As the Fed recalibrates, what does it mean in a global context_

M Idea Global Economic Briefing | North America September 23, 2024 04:00 AM GMT The Fed started its easing cycle with a 50bp cut. We don't think the Fed's reaction function has changed, and so the read through for other central banks is still limited. M The Fed cut rates by 50bps, but we did not see a huge shift in its reaction function. Rather, the 50bps was to show a commitment to not falling behind the curve, in Powell's words. But from here the most likely path forward is a string of 25bp cuts. Powell h ...