HSBC Says Fed Tools Limited, Global Fiscal Policy Relief Might Be Next

Janet Henry, HSBC’s global chief economist, is apparently a Steve McQueen fan. In the bank’s economic outlook, “The Great Escape, 2016 outlook,” Henry cites the movie, noting that in the end “it ended badly” and that all the escapees were caught. She uses this as framing to, in part, look at the U.S. Federal reserve raising interest rates and then, in a fashion similar to her spiky haired predecessor, she goes against the Goldman Sachs grain and says it would be unwise for the Fed to raise interest rates without seeing the whites of inflation’s eyes. HSBC says Fed rate…