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Raphaël Gallardo

Investment & Client Solutions Strategist

Is the Fed's patience running out?

10.03.2015 - Raphaël Gallardo

Market analysis by Raphaël Gallardo, strategist of Investment and client solutions.

"While most of the world’s central banks are engaged in monetary easing, one of them is about to put an end to six years of zero rate policy : the US Federal Reserve. The Fed is mindful of the macroeconomic (impact on global growth) and financial risks (possible capital outflows from emerging countries, etc.), linked to a tightening of its monetary rhetoric and has carefully worded its statements to show that the utmost caution will be taken. Nevertheless, the state of the US economy fully justifies a turnaround in the Fed’s stance, which will inevitably influence the financial markets."

Read further in Allocation Perspective / Is the Fed's patience running out ?

Raphael Gallardo graduated from the Ecole Nationale Supérieure des Mines de Paris, civil engineering course.

Raphael Gallardo began his career as a financial Engineer at Paribas in 1997, before joining the Economic Research division of BNP Paribas in 1999 and the Asset Management in 2005. In 2007, he became a Chief Economist at Axa IM.

He joined Natixis Asset Management in 2013 as an Investment & Client Solutions Strategist.