The lack of inflation should keep the Fed on hold

unnamedEven for long-time observers, it is sometimes remarkable how quickly market sentiment can change. Not too long ago, most everyone was concerned that the stock market rally could come to an end whenever the United States’ Federal Reserve decided to raise rates. While the Fed had been giving strong hints that it would do so in September, in the end it kept rates unchanged around zero, pointing at weak global conditions among the reasons for doing so. Because those conditions are expected to remain in place for a while, this week the Financial Times asks: “What if rates never rise?”

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