Surveillance: Fed Skip with Luzzetti
Bloomberg Surveillance
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The Fed's Expectations for a 2.65% Inflation Target
I think it depends on how you get there. If it's an immaculate disinflation where the labor market stays where it is, then that's in kind of a fantastic outcome for the economy for markets. But I think their own forecasts have shown a need for some recession and rising unemployment. We still hold that view that you really do need this economy to slow materially the labor market to weaken to get close to 2%.
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