The Data Still Says “Go”

Ethan Harris, US economist at Bank of America Merrill Lynch, put this out to clients two days ago: As the markets continue to sell-off, an increasingly popular view among investors is that the Fed won’t hike until next year. Global growth is weak, Chinese policy mistakes have destabilized their markets and the US equity market has finally succumbed to the pressure, with a roughly 10% correction. Thus far only a handful ...