Washington | The US Federal Reserve appears not to have learned the lessons of the 2008 global financial crisis, and will need to justify further cuts in borrowing costs, says former RBA board member Warwick McKibbin.
Markets are on tenterhooks this week ahead of the Fed's latest rate decision on Wednesday (Thursday AEST), with most economists anticipating a 0.25 percentage point cut to between 1.75 per cent and 2 per cent.
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Jacob Greber writes about politics, economics and business from Canberra. He has been a Washington correspondent and economics correspondent. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com
