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Surveillance: Hyman's Fed Forecast
Bloomberg Surveillance
The Fed's Expectations for Inflation to Bottom Out
We think they should have been more aggressive, but we think they will not be. You start to see around 3%, the Fed gets weak knees. The labor market is getting to a point where to bring inflation down much lower, you got to do a substantial amount of damage. That's a bigger recession ahead of 2024 that the Fed probably didn't want. If I have a sustained 3% which is your minimum call, maybe actually higher, that gives me a nominal GDP that's extraordinary. Does that support well-run companies in America? Well, that supports companies that have low borrowing costs and strong management. And we'll look at the Russell 2045% of the companies in the Russell
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