Skip to content
Subscriber Only
Opinion
Christopher Balding

Fed Leaves China Only Tough Choices

The regime needs to continue intervening to moderate the yuan's decline.
The yuan's unofficial dollar peg is a problem.

The yuan's unofficial dollar peg is a problem.

Source: STR/AFP/Getty Images

No one will blink if the Fed raises U.S. interest rates 50 basis points today, signaling an end to the cheap-money era. The U.S. central bank has telegraphed its move for months and while pockets of lingering weakness will spur some Fed watchers to challenge the decision, there's little reason to believe such a small move will nudge the world's biggest economy back into recession.

The Fed Eases Off