Surveillance: ECB Adds to Fed Gloom
Bloomberg Surveillance
00:00
Is the Fed Going to Cut Interest Rates?
Two members of the committee didn't want any change in rates, which I find somewhat remarkable and speaks to the dovishness of some people on the committee. The terminal rate, 5.1%, it's going to stay there for a while. Don't look for cuts until there's clear evidence that inflation is heading back to 2%. Markets are looking for central banks to react as they reacted when economies have gone into recession over the last two decades.
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