Rather than anticipating a rate hike by the U.S. Federal Reserve this year, Nomura’s widely-watched strategist, Bob Janjuah, believes that the move could be postponed to late next year—and that more aggressive easing or “QE” could be on the way.
“If U.S consumption doesn’t pick up then why the hell would the Fed raise rates?” the notoriously bearish Janjuah told CNBC International on Tuesday. “I think (the second quarter of 2015) is critical. (The second quarter) is going to tell us about corporate earnings in the U.S.”
U.S. consumer spending barely rose in February, according to the U.S. Commerce Department on Monday. The new figures showed a rise of 0.1 percent last month after dropping 0.2 percent in January, with consumer spending accounting for an average of about two-thirds of gross domestic product in the United States.
CNBC
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