New Year, More Challenges for Global Markets and the Fed

New Year, More Challenges for Global Markets and the Fed

By Blu Putnam, Chief Economist, CME Group

Phase Transitions: Major Changes for Markets to Navigate

  • Markets look to adjust to rising cost of capital amid Fed rate hikes
  • Trade war with China another phase transition for markets to navigate
  • Tariffs on steel and aluminum to weigh on already struggling auto industry
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After Multiple Hikes, Could Fed Resort to Cutting Rates Next?

  • Fed Fund futures signal no Fed interest rate moves in 2019
  • Futures indicate a 24 percent chance of an interest rate cut in January 2020
  • Will Fed change its indications for at least two rate hikes in 2019?
  • Possible rate cut linked to concerns that unemployment rate might rise
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