Panama considers as the beginning of a global trend towards reducing the cost of money in dollars, the announcement of the interest rate reduction of the United States Federal Reserve (FED), according to the Minister of Economy and Finance, Felipe Chapman, who described the news as positive for both the world and the country.

“Good news for the world and Panama the announcement of the United States Federal Reserve, to reduce the reference interest rate target by 0.50 percentage points,” Chapman said through social networks.

Meanwhile, the economist, Horacio Estrí, indicated that in Panama nothing more will happen because historically it has been shown that there is no close or direct relationship between the fluctuation of rates in the United States and Panama.

“They react, but they react in the long run, and the evidence is that when it has gone down there, it has remained relatively stable here, so there is no direct relationship and it is very unlikely that in Panama there will be a reduction in the interest rate as a result of what has happened in the United States,” said Estrí.

The United States Federal Reserve (FED) announced an interest rate reduction. Members of the Federal Open Market Committee (FOMC) of the Federal Reserve (Fed) reported on Wednesday a reduction in the interest rate in the United States that was in a range of 5.25% to 5.5%,

Now the US central bank reduced this range to 4.75% to 5%, at the beginning of what is expected to be a constant relaxation of monetary policy with a greater than usual drop in debt costs after the recent concern for the health of the labor market.

The announcement was made before a press conference by the president of the entity, Jerome Powell, who gave details about the expectations and projections for the US economy.