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Bonds Upset By Waller’s ‘Careful’ Cuts
There's "no reason" the Fed should cut rates "as quickly or as rapidly as in the past."
That's according to Chris Waller, who on Tuesday delivered remarks at a Brookings event. The title of his address was "Almost as Good as It Gets…But Will It Last?"
Markets were all ears. It was Waller, you'll recall, whose November 28 comments on the prospects for rate cuts in 2024 tipped the Fed's dovish pivot and helped extend the "everything rally."
I've been over this ad nauseam, but it bears repeati
FWIW, I think the Fed should cut rates in March. As insurance.
The economy seems strong but manufacturing is weak, housing is a mess and I keep hearing about layoffs mostly in tech but not only – not yet visible in employment statistics but you wouldn’t want to wait too long.
Obviously, that’s inflation permitting and for that, it’s important the WH does what it can for supply. Notably oil and, to a lesser extend, food.
New fed whisperer, as well should be the case.