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Philippe Waechter

Chief economist

MACRO PERSPECTIVE : A change in global growth expectations ?

21.10.2014 - Philippe Waechter

Macroeconomics analysis by Philippe Waechter, Chief economist of Natixis Asset Management.

"Financial market fluctuations have intensified recently. This can be seen in both the equity markets and the bond markets, where the abrupt but temporary dip in the U.S. 10-year Treasury yield below 2% is a strong signal for a possible change in policy.

These financial market movements began the day after Janet Yellen’s September 17 press conference. She remained vague on the timing of any increase in the Fed’s rates, thus creating uncertainty and raising questions about the U.S. central bank’s commitment to a swift change in its monetary strategy. According to the chairman of the Federal Reserve, it would not be advisable to act too quickly as long as imbalances remain in the economy. In general, the takeaway from her comments is that it is likely preferable to act a little too late than a little too soon, which explains why she has no interest in setting overly specific objectives for the actual direction of her monetary policy."

Read further in Macro Perspective

Philippe Waechter is Head of the economic research department of Ostrum Asset Management.

Philippe joined Bred Banque Populaire in April 1988 as an economist. In 1994 he became Director of the economic research department. When Banque Populaire Asset Management was created in June 1998 (which then became Natexis Asset Management in May 2003) Philippe held the same position.

Philippe is graduated from the University of Paris I and worked as a Professor at the University of Evry from 2002 to 2003. He regularly works for the print and audiovisual media.

On Twitter

Philippe Waechter . 9h ago

La conjoncture en #France connait un sérieux trou d'air en décembre. L'activité selon Markit s'est arrêtée. L'indic…

Philippe Waechter . 9h ago

RT @phil_waechter: The ECB ready to maintain its accommodative policy in 2019

Philippe Waechter . 9h ago

RT @phil_waechter: La BCE bien partie pour ne rien faire en 2019

On 3 April 2018, Natixis Asset Management became Ostrum Asset Management.