Jerome being the adult in the room. Pretty much agree with the call, inflation is still not tamed. Hopefully, the markets won't be too disappointed, go thru the acceptance process, and accept the new reality of no cut probably until after elections at the earliest.
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Fed Chair Jerome Powell said the U.S. economy has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon.
“The recent data have clearly not given us greater confidence, and instead indicate that it’s likely to take longer than expected to achieve that confidence,” he said during a central banking forum.
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Powell added that until inflation shows more progress, “We can maintain the current level of restriction for as long as needed.”
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On other news, DJT down -14% today even with their just announced streaming plan.