Markets are celebrating signs that the Fed is getting close to ending its vicious tightening cycle – and even the Japanese yen has been staging a modest rally.
Investors have long been hoping for some sign that the powerful US Federal Reserve might show some mercy and slacken its pace of interest rate rises. And on Friday, it finally came.
The Wall Street Journal’s Nick Timiraos – who has such an uncanny ability to predict the US central bank’s moves that he’s been dubbed the Fed whisperer – wrote on Friday that Fed officials are looking to slow the pace of their rate rises late this year, and into 2023.
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Karen Maley writes on banking and finance, specialising in financial services, private equity and investment banking. Karen is based in Sydney. Connect with Karen on Twitter. Email Karen at karen.maley@afr.com
