Economics
Central Banks Are Tossing Grenades Rather Than Firing Bazookas
- Fed and ECB among those signaling rate cuts or other easing
- IMF forecasts global growth in 2019 to be slowest in decade
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Central bankers readying to fight another economic downturn are tossing hand grenades rather than firing bazookas.
Federal Reserve Chairman Jerome Powell and European Central Bank President Mario Draghi stand ready alongside many of their counterparts to cut interest rates to bolster the weakest growth in a decade and lackluster inflation. Yet they have little to work with and, perhaps more worryingly, what they do have lacks potency.