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Forward Guidance
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Do You Think the Fed Is Going to Pivot?
Samuel Altschuler: Do you think that contagion would potentially force and specifically contagion amongst other sovereign nation states would force the Fed to pivot? He says if a pivot means cutting rates, he thinks no until like the second half of 2023 at the earliest. A P word will have to be truly, uh, cutting, cutting rates, not quantitative easing as some people call it. The Bernanke doctrine is that QE should be an extraordinary measure where interest rates should be at zero but there's still a depression in the U.S., altschuler says.
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