NEW YORK, Jan 28 — World stocks rallied and the dollar edged up from eight-month lows yesterday as slowing inflation data raised hopes the Federal Reserve can engineer an economic soft landing and reduce its pace of aggressive monetary tightening next week.
“But what they have paid less attention to is growth and the growth picture is going to be scary this year. It’s going to be low for good reason,” Mullarkey said, referring to the Fed’s pushing rates to “restrictive” levels to curb inflation. The Fed, however, will be in no rush to cut rates, contrary to what the market perceives, Mullarkey said.
In Europe, the broad STOXX 600 index closed up 0.26 per cent as all major bourses in Europe closed higher.
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