, Columnist
The Fed and the PBOC Are No Longer Poles Apart
The world’s two most important central banks are edging closer in their approach to monetary policy. That’s a good thing for global stability.
Finding friends.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
A pleasing synchronicity is edging back into the world economy, at least in terms of monetary policy. Let’s hope it’s not too late.
Wasn’t the “synchronized global upswing” narrative — all the rage in 2017 — retired last year? That doesn’t mean courses can’t be recalibrated. The signal late last week of a pause in interest-rate hikes from the Federal Reserve, an unmistakable shift, was preceded by a few hours China’s steps to shore up its slowing economy.