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  • The Federal Reserve raised interest rates for the second time this year on Wednesday and is looking at two more for 2018 amid a strong outlook for the U.S. economy.
  • A fourth rate hike this year could bring about an inverted yield curve and economic slowdown, Principal Global Investors CEO Jim McCaughan believes.
  • McCaughan pointed to what he saw as a disparity between reported rate of inflation and the actual rate, which he said was altered by the impact of technology on the U.S. economy.

OTHER NEWS

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Last year, China pledged to allow overseas financial firms greater access to the world’s second-largest economy. Then came the trade war with the U.S., raising concerns that President Xi Jinping could retaliate by going back on his vow. Xi now says the opening is steadily widening. But the take-up by foreign companies has been slow.

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