Yes, Federal Reserve Jerome Powell is hoping he can cut rates soon.
But it's less because he's proud he's won the inflation battle. It's more because he's afraid the Lag Effect from his "higher for longer" interest rates are starting to visibly damage the economy.
Portfolio manager Michael Lebowitz stands in for Lance Roberts this week to talk about the Fed's unfolding scramble to get to rate cuts before the wheels come off. We're already seeing concerning signs: 1.5% (or less) GDP growth for 2024 so far, rising unemployment, runaway deficits and struggling consumers.
Can the Fed ride to the rescue before the wheels come off?
Michael and I discuss that, as well as everything that mattered to markets, in this week's Weekly Recap.
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