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Curb your enthusiasm: Why interest rates are not falling to pre-pandemic levels soon
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The US Federal Reserve plans to execute more cuts in 2024, 2025 and 2026, and has expressed confidence that inflation will continue to decline.
PHOTO: REUTERS
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SINGAPORE – A bigger-than-expected cut by the United States Federal Reserve may have given the impression that the interest rates on home and car loans here will rapidly fall to lows seen before the Covid-19 pandemic.
US policymakers and some private economists believe that the world’s largest economy is in a new cycle, where low inflation, low growth and high unemployment are things of the past.
