Menu
Theme
Sign In
On Wednesday, at his presser, Fed Chair Jerome Powell sounded more dovish. So bond and stock prices continued to rally on expectations that the Fed might cut the federal funds rate three times in 2024 by 75bps in total. On Friday, NY Fed President John Williams pushed back by saying, "We aren't really talking about rate cuts right now." More Fed officials will weigh in on this issue over the rest of the month.
The data out this week should confirm that we are in an economic soft-landing, which is the scenario that Fed officials seem to be thinking is increasingly likely. November's PCED (Fri) should indicate that inflation is moderating as shown by the month's CPI and PPI inflation rates:
End of free preview
Ed's analysis as news breaks — often the same day. Plus the full QuickTakes archive.
Individual investor? Get Ed's QuickTakes for personal use at yardeniquicktakes.com →