Fed on rough road to normalisation, Economic outlook and challenges for East Asia
Commentary: Fed on rough road to normalisation
By Neil Williams in London
The Federal Reserve, presiding over a shrunken output gap and perkier wage growth, remains the test case for whether any central bank can ‘normalise’ interest rates. The likelihood is that US rates are already at or close to their summit. Even if the Fed surprises markets by raising rates again, this would still leave its official policy rate...