US likely to cut rates 3 times this year as inflation cools, says former Fed vice-chair

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The Federal Reserve is likely to cut interest rates three times this year as inflation heads downward and the labour market cools, according to Richard Clarida, who was vice-chair of the US central bank from 2018 to 2022.

The steep increases have delivered a “generational reset” in the starting yields of quality fixed-income investments, an indication of the total return on bond investment, Clarida said.

Asian investors, in particular, will benefit from a potential reduction in currency hedging costs as rates fall, Clarida added.

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Article Details

Author / Journalist: Aileen Chuang

Category: Business

Markets: Hong KongChina

Topics: Clarida Data Rate Central Interest Employment Inflation Market Labour Rates Cuts

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-22 @ 06:00:16 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21717265

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