This week, it all depends on the US Federal Reserve. Markets are ready, portfolio managers are under steam, and traders are rubbing their hands, everyone is wondering ... Does the Fed will raise interest rates tomorrow?
A former politician standing at the head of a major bank, told CNBC, that recent positive US economic data give a prerequisite for raising interest rates now.
"US economic data are good. In order to maintain good health of the economy in the medium term interest rates need to be increased slightly. The US economy I think we really need this and I am very confident that the US will raise interest rates at probably in September, 'Axel Weber, now chairman of UBS and former president of the Deutsche Bundesbank
Fed Chairman Janet Yellen said previously that the rise in interest rates will depend on "the economic data." Weber stressed that the assessment of US economic growth in the first quarter was increased to 0.6% yoy. In addition, the second quarter "very good growth" of 3.7% yoy.
Stephen D. Angelov
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