· It’s definitely a series of cuts, albeit a "recalibration," ahead: “We have in fact begun the cutting cycle now.”
· The larger cut was mostly about risk management: “We don’t think we’re behind…. You can take this as a sign of our commitment not to get behind.”
· The slowdown in the labor market “bears watching, and we’re watching.”
· One note that wasn't unabashedly dovish: "It feels to me the neutral rate is probably significantly higher than it was back" before the pandemic, when it looked like the real neutral rate might be negative.
Nick’s recap of Powell speech
所有跟帖:
• 4.4% by year end, 3.4% by end of next year -aloevera- ♀ (57 bytes) () 09/18/2024 postreply 13:08:11
• It is all in dot plot from Fed's annoucement -三心三意- ♂ (274 bytes) () 09/18/2024 postreply 13:46:25
• I watched the press conference -aloevera- ♀ (155 bytes) () 09/18/2024 postreply 21:00:05