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Investment Weekly

Is the US economy approaching stall speed?
25 July 2025
    Articles

    Chart of the week – Is the US economy approaching stall speed?

    Chart of the week – Is the US economy approaching stall speed?

    Markets are pricing very little chance of a rate cut at next week’s US Fed meeting. Above-target inflation means the Fed is understandably cautious about cutting rates, yet there are concerns the economy could be approaching stall speed. With US equity markets at new highs, investors don’t appear to be concerned about the soggy macro data for now – but it could support the case for looking beyond the US stock market from here, particularly to emerging markets.

    More from this week:

    Market Spotlight

    • A new globalisation

    Lens on…

    • Greenback blues
    • Long on short duration
    • Indonesia in demand

    Read the full commentary PDF, 530KB

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