Philippe Torres Says Fed Rate Hike Unlikely In 2015


Posted July 10, 2015 by philippe-torres

Philippe Torres says the Federal Reserve has missed its window of opportunity to raise interest rates.

 
Luxembourg’s Philippe Torres has told institutional clients that the odds of the US Federal Reserve raising interest rates in September have receded in light of lackluster data from the world’s largest economy and growing uncertainty overseas including the Greek debt crisis and worries over China’s rapidly cooling economy.

“The Greek debt crisis and the potential fallout should the country exit the Euro zone is a far greater threat to the global economy than the politicians would have us believe,” wrote Guillaume Toussaint, Chief Investment Officer at Philippe Torres in a scheduled client communiqué.

The note was issued following the release of the minutes of the FOMC’s (Federal Open Market Committee) June meeting. The minutes showed that voting members struck a markedly dovish tone and pointed to a likely delay in the central bank’s timetable for a normalization of monetary policy.

“Most commentators have been predicting the Fed will raise rates for the first time in 9 years at its September meeting but it has always been our belief that the Fed missed the window of opportunity to hike last year,” explained Toussaint.

“In our view, it’s becoming patently obvious that, while the US economy may be improving there is an undeniable slowing in the pace of that improvement. Short of another collapse in oil prices, we don’t see any catalyst that could miraculously produce an acceleration in the pace of this recovery,” he continued.

Philippe Torres advised clients to remain “on the sidelines” in the US equity market but suggested buying Japanese equities on dips citing the potential for further monetary easing from the Bank of Japan.

About Philippe Torres
Philippe Torres provides independent financial advice to individuals, professionals and any small to medium sized enterprises.

Philippe Torres are a dedicated team of veteran level advisers and analysts who develop long-term relationships with our clients and other professionals. We try to ensure that everyones financial requirements are catered for throughout the different aspects of their life — we do this by developing a close relationship and applying our knowledge anywhere it is due.

We are well-versed and experienced in all aspects of financial planning with particular expertise in equity investments. Whether you are looking for investment advice, retirement planning, inheritance tax planning or simply reducing costs, we can help. Our teams work closely together, from our analysts, to our advisers, to our Board of Directors, which means we are able to accurately assess our clients’ needs and help them achieve their goals.
Contact Philippe Torres
31-33 Avenue Pasteur,
L-2311,
Luxembourg
Email: [email protected]
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Contact Email [email protected]
Issued By George Saxon
Website Philippe Torres
Phone +352-2786-1651
Business Address 31-33 Avenue Pasteur, L-2311,
Luxembourg
Country Luxembourg
Categories Banking
Tags Philippe Torres , Investments , interest rates , Federal Reserve , Greece
Last Updated July 10, 2015