Fed can afford to stay patient as inflation risks ease: Steve Englander

Steve Englander of Standard Chartered said the US Federal Reserve can stay patient on rate cuts as inflation risks ease, noting that unit labour costs are muted and oil prices are softening. Market expectations have shifted back toward rate moves later in the year, aided by Fed Chair Kevin Warsh's positive tone at the Sintra forum, which supported US equities. He added that the recent pullback in gold, silver and other metals is a short-term correction and not a long-term trend, while a sustained yen recovery would require policy action beyond currency intervention.