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Not Cutting It?
The Fed may not cut rates this year.
So intimated Neel Kashkari on Thursday, when markets heard from a veritable procession of Fed speakers, all of whom were careful to emphasize that the rate cuts tipped by the March dot plot are entirely (or at least mostly) contingent on additional disinflation progress.
Kashkari said he "jotted down two rate cuts" for 2024 last month. But that was based on the assumption inflation "continues to fall back towards our 2% target." If, by contrast, inflation w
Hypothetical – if this month you could see all rate cut expectations wrung out of the market (i.e. zero cuts implied) at the cost of giving up a few percentage points off the S&P 500’s YTD run, would you take that deal?
In a heartbeat.