UBS On-Air: Paul Donovan Daily Audio 'The end of the rate cut scramble'
UBS On-Air: Market Moves · Podcast owner
December 19, 20242m 29s
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Show Notes
US inflation has fallen this year. A lot of this is due to the fantasy owners’ equivalent rent price, which no one pays. Declining fantasy prices do not help consumers’ spending power. However, rightly or wrongly (the answer is “wrongly”), Fed Chair Powell pays attention to inflation measures including OER. If rates were raised on a fantasy, they should be cut on a fantasy—and we see a rate cut today.