What we are referring to is the monetary policy stance of certain central banks. In the past weeks, we have seen more evidence that the world seems to be slowing down after two years of synchronized global growth. This is a widely watched recession signal which indicates that investors are expecting a sharp slowdown in global growth. The Fed may have misjudged how weak the global economy has become with their pivot from hawk to dove being too little, too late. Similar to 2008 though, there will be doubts over whether central banks can win, especially this late in the economic cycle.

Source: Philippine Star March 24, 2019 18:13 UTC