Tiffany Wilding
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Navigating Global Macro Risks in 2025
Explore the evolving risks and opportunities affecting global growth and inflation in our 2025 outlook with PIMCO economist Tiffany Wilding.
The first trade skirmish of the second Trump administration has reverberated through global markets, highlighting the ongoing uncertainty in international trade relations.
Uncertainty Is Certain
Amid an unsettled global economic outlook and elevated equity valuations, bond markets present attractive yields and important diversification benefits.
Macroeconomic uncertainties prompted the Federal Reserve to signal a slower pace of policy rate cuts in 2025 and beyond.
Recent economic data support the Federal Reserve’s meeting-by-meeting approach to rate cuts.
Global economies are normalizing and central banks are cutting rates, we identified four themes investors should focus on as we head into 2025.
Securing the Soft Landing
The fixed income outlook remains strong across multiple economic scenarios as the U.S. Federal Reserve joins other central banks in cutting interest rates.
We believe the Fed is on a path to continue to cut rates over the next several meetings to realign monetary policy with a now more “normal” U.S. economy.
The central bank’s latest policy statement and Chair Jerome Powell’s remarks suggest that an initial interest rate cut could come as soon as September.