Federal Reserve Chair Jerome Powell announced that interest rates will remain unchanged during a news conference in Washington, D.C. Major central banks worldwide are holding monetary policy meetings, with the Fed expected to begin a rate-cutting cycle. Brazil, the Bank of England, Norway’s Norges Bank, and South Africa’s Reserve Bank will also have meetings this week. John Bilton of J.P. Morgan Asset Management anticipates a cutting phase without a recession. The Fed is expected to cut rates by 25 basis points, with some suggesting a 50 basis point cut. Brazil is likely to raise rates, while the Bank of England is not expected to cut rates. South Africa is expected to cut rates, while Norway is likely to keep rates steady. The Bank of Japan will also announce its rate decision this week.
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Will there be a US recession?
Prior to Donald Trump's election win, the likelihood of his presidency causing a US recession seemed minimal, with the belief that he had a strong grip on economic matters. However, concerns are rising as his trade war threatens to drag the US economy into negative territory, leading to market declines and fears of a potential recession. Despite conflicting predictions, experts emphasize the impact a US recession could have on global finances and urge caution in...
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