Following the Fed

ARTICLE - The Federal Reserve has its foot over the gas pedal. An attempt today to speed up the US economy seems almost certain; rarely does the Fed send signals to the financial markets that it is about to cut interest rates, only to disappoint. Whether the Fed's European counterparts follow suit tomorrow is much more difficult to predict.

First published in the Financial Times, UK edition, 6 November.

The European Central Bank is often portrayed as an ostrich-like organisation: head in the sand

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