Surveillance: Hyman's Fed Forecast
Bloomberg Surveillance
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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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