Not ready to toggle
The Fed’s Thomas Barkin says they need more data before they toggle rates. Phil and NAB’s Skye Master says whether this is the new way of describing a pivot? Whatever, it’s still some way off.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 9th February 2024
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The Fed and several other central banks are united in their message that there’s no rush to cut rates. Thomas Barkin was the latest to deliver the message from the FOMC, suggesting they won’t ‘toggle’ rates until they’ve had a few more months of data. Meanwhile, NAB’s Skye masters says as we await more data bonds are drifting, looking for direction. There will be some trepidation about the possibility of a revision to US CPI numbers later and there are more solid numbers to help support whatever side of the timing of the toggle you sit on.
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