DIRE PREDICTIONS DIDN’T PLAY POST-FED HIKE: The Fed announced its rate hike, at 0.75 per cent, and promised more of the same. Instead of getting into a tizzy, global markets and investors took the announcement with the right dose of equanimity. Sure, there has been weakening of key currencies against the dollar. But nothing that smacks of outright panic or reflecting investor concerns of a deep drive into a bear market. Now, the question is will the Fed be able to get a degree of control over pesky inflation without managing to to tip the US economy – and much of the rest of the world – into a recession? At least for today, investors are skewing towards positive outcomes… [COMMENT BY: Manoj Nair, Business Editor]
AP