Insight - Is this the last charge of the stimulus brigade?

Money is akin to water: It seeps through cracks and across borders. The monetary stimulus from the quantitative easing (QE) programmes of the major central banks acts to lift all boats globally. (File pi shows the US Fed building in Washington)

TWO likely events have just complicated the global economic outlook for Fed chair Jerome Powell as he prepares for his speech today at the Jackson Hole virtual central banking symposium.

First, the US House of Representatives backed President Joe Biden’s US$3.5 trillion (RM14.7 trillion) budget resolution, moving it an important step toward passage. It includes US$550bil (RM2.3 trillion) to spend on infrastructure.