In contrast, Steve Blitz, chief U.S. economist for TS Lombard, thinks the Fed, at least, can have an impact on the U.S. economy. While monetary policy actions and reactions aren’t mechanical, he said, we can expect a short-term interest-rate cut to steepen the yield curve – that is, to ensure that shorter rates are considerably lower than longer ones, which is good for the banking sector. A rate cut will also weaken the dollar, which is good for the economy.
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