Seit der Januar-Sitzung des Offenmarktausschusses (Federal Open Market Committee, FOMC) haben der Vorsitzende der US-Notenbank, Jerome Powell, und seine Kollegen deutlich zu verstehen gegeben, dass sie im März eine zweite Zinspause in Folge einlegen werden. Der Grund: Die Kerninflation (Core PCE) liegt weiterhin über dem Zielwert von 2 % (2,6 % im Jahresvergleich im Januar; Quelle Bloomberg). Zudem steigen die Inflationserwartungen aus Umfragen zum Verbraucher- und Unternehmervertrauen aufgrund der von der Trump-Regierung verhängten Zollerhöhungen tendenziell an. Dieser vorsichtige Kurs der Fed wird durch die aktualisierte Zusammenfassung der Wirtschaftsprojektionen (Summary of Economic Projections, SEP) ergänzt: Sie dürfte ein weiterhin robustes Wachstum,
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