No Risk-Free Path

During last week’s press conference after the Federal Reserve’s (Fed) rate decision, Chairman Jerome Powell warned his audience there is no risk-free path for interest rates right now. Inflation is above target and growth appears resilient. We think that the soft labor market will eventually weaken inflation pressures, so the Fed is making the right […]

Weekly Bottom Line

 The Fed resumed rate cuts at this week’s FOMC meeting, lowering the policy rate by 25 basis points to 4.00%- 4.25%. The Fed’s “dot” plot pointed to two more cuts by the end of this year, but it also showed one member who expects a lot more easing. Retail sales came in better than expected […]