Nick’s recap of Powell speech

· 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.

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