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No ‘Guts,’ No Glory
Data. Who needs it?
Not America's data-dependent monetary authority, that's for sure. Just ask this month's inexplicable rate cut and the one markets are convinced is coming next month.
"In light of October's relatively benign inflation update and the market’s willingness to price in >80% odds of a 25bps cut next month, we’re content in the knowledge that the next relevant data input for [Jerome] Powell will be the November data set," BMO's Ian Lyngen and Vail Hartman said Thursday, add
