2024-06-19
5 分钟Hello, Alice Fullwood here, co-host of Money Talks,
our weekly podcast on markets, the economy and business.
Welcome to Editors' Picks.
You're about to hear an article from the latest edition of The Economist.
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Add monetary policy to the list of ways in which America's economy stands out.
Central banks in Canada,
Sweden and the Eurozone all recently began cutting interest rates.
Yet the Federal Reserve on June 12th again postponed its plans for monetary loosening.
Even though rates in America have risen higher than in other big rich countries and inflation is falling,
the median Fed rate-setter expects a cut of just one-quarter of a percentage point this year.
Some monetary divergence is the natural consequence of America's stronger growth.
But what is striking about America is how immune its markets appear to be to the threat of political dysfunction and fiscal frailty.
By contrast, in the rest of the world, those factors are weighing increasingly heavily.
According to the European Central Bank's latest projections,
the Eurozone's economy will grow by 0.9% in 2024.
A real-time estimate by the Federal Reserve Bank of Atlanta suggests that America's is currently growing at more than three times that pace.
China is struggling with a property crisis and for threat of deflation.
Japan has been defending its weak currency and Britain has become synonymous with dreadful productivity.
As others catch up to the world's biggest economy,