China warned to brace for US stimulus tapering, rate increases with Jerome Powell to remain as Fed chair

Jerome Powell’s nomination for a second term as chair of the US Federal Reserve has fuelled market expectations of faster-than-expected stimulus tapering and earlier than expected interest rate increases, triggering calls for China to make early preparations for the United States normalising its monetary policy.Powell, 68, was officially nominated by US President Joe Biden on Monday in Washington to serve for a further four years, with the more dovish figure of Lael Brainard put forward as vice…

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