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Investment Weekly

Fed cuts open door to more EM easing
31 October 2025
    Articles

    Chart of the week – Fed cuts open door to more EM easing

    Chart of the week – Fed cuts open door to more EM easing

    The Fed this week delivered a 25bp “insurance” rate cut and ended its balance sheet run off, as widely expected. The ‘news’ was in the guidance around the future path for policy, which was less dovish than the market had been pricing ahead of the meeting. Powell highlighted “strongly differing views” on the FOMC with a rate cut in December “far from a forgone conclusion”. This somewhat hawkish tilt reflects better-than-expected economic activity driven by wealthy consumers and AI-related investment.

    More from this week:

    Market Spotlight

    • Planning ahead

    Lens on…

    • Hiding in the hedges
    • Upgrade time
    • India: superior growth at a reasonable price?

    Read the full commentary PDF, 3.33MB 

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