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Fed: cutting fast, then slow
Acknowledging that its monetary policy is far too restrictive now that the balance of risks has shifted from inflation to unemployment, the Fed yesterday initiated a cycle of policy rate cuts. There is less danger in hitting hard at the start of the cycle (-50bp) and then slowing down than the opposite. This is the choice that Jerome Powell shared with the entire FOMC, with the exception of one governor. According to the new dot chart, two 25bp rate cuts are expected between now ...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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