Bloomberg Surveillance Single Best Idea with Tom Keene: Andrew Hollenhorst & Matthew Hornbach
Sep 17, 2025
Tune in for a deep dive into the Federal Reserve's recent decisions. Experts Andrew Hollenhorst and Matthew Hornbach debate whether the latest moves signal a one-time adjustment or the beginning of a broader cut cycle. They also explore how Chair Powell's legacy might influence future policies. Get ready for insights that could impact your understanding of the economy!
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Fed Meeting Feels Like A Pathway
- The Fed decision day felt like flying on a set path with markets watching each turn closely.
- Andrew Hollenhorst frames the key question as whether recent moves are a tweak or the start of a real cut cycle.
Ask If Cuts Are A Cycle Or A Tweak
- Ask whether this is a one-off adjustment or the start of a rate-cut cycle when assessing policy moves.
- Calibrate your expectations around inflation and tariff uncertainty before assuming a multi-meeting easing path.
Calendar Overrules Short-Term Noise
- The calendar toward the end of Powell's tenure is more important than other market noise right now.
- Tom Keene emphasizes the march of time as a primary market influence ahead of future decisions.