Is the Fed spending too long in the shower?
The Fed is likely to walk through the door markets have opened, expecting a 50bp cut this week, says JBWere’s Sally Auld.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 17th September 2024
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Market pricing moved further in favour of a 50bpcut from the fed this week. Does that mean the Fed, who are expected to make at least one big cut before Christmas, side with the market? It makes it easier for them to walk through an open door, says JBWere’s Sally Auld on this morning’s podcast. There’s also discussion about Paul Krugman’s tweets overnight, suggesting that a data dependent Fed risks becoming Milton Friedman’s fool in the shower — the guy who alternately freezing and scalding himself because he’s too data-dependent. Canada’s CPI print is the only major data release of the day. What does it mean for the BoC, and how long do they stay in the shower for before they leave those taps alone?
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