Rabobank said that at present, Trump's plan has not materially changed the economic outlook for the euro area. Therefore, there is no reason to expect the ECB to change the course of interest rate cuts at this time. The ECB Governing Council increasingly expects inflation to converge to its 2% target during 2025, which allows for another 25 basis points rate cut at the January policy meeting. However, uncertainty about the future remains high. Therefore, while the ECB may be inclined to...
Federal Reserve Chairperson Jerome Powell: Current policy is "substantial" but not "highly" restrictive.
President Joe Biden said more work was needed on inflation, but substantial progress had been made.