SlateStone Wealth chief market strategist Kenny Polcari discusses whether the U.S. economy passed peak inflation after November's wholesale inflation report beat expectations on 'Varney & Co.'is likely to keep interest rates elevated through 2023, dashing Wall Street's hopes for rate cuts in the second half of 2023 and almost guaranteeing a recession.
The forecast comes days before the Fed's final meeting of the year, during which policymakers are widely expected to raise rates by 50 basis points following four consecutive 75 basis-point hikes. Officials will announce their decision on Wednesday at 2 p.m. at the conclusion of their two-day meeting.
Federal Reserve Chair Jerome Powell speaks during a news conference on interest rates, the economy and monetary policy actions, at the Federal Reserve Building in Washington, D.C., on June 15, 2022. signaled at the end of November that the U.S. central bank will slow its interest rate increases at its meeting next week, but stressed that policymakers have more work to do in order to crush stubbornly high inflation.
Yeah could get real bad out there for some people
Lower them ,lower them ,lower them. Seen this movie before. Not pretty!
Nice job Joe. Bidenflation
We are already in a recession ....
What started it was overwhelming overturning executive orders change in what POTUS Trump left from his term. Day one shutting down oil pipe lines permits keystone too. Inflation causes right there the genesis. Oil indepen to dependence then insulting tap into emerg oil reserves
I find it interesting how the financial community likes to front run what they think the Fed will/should do. Are they trying to munipulate the Fed's actions? 🤨
Part 3 of the great reset
No it will
Looks very much like FINRA/OTC worked with hedge funds to steal Billions of dollars. SenRonJohnson GovEvers JudgeJeanine greggutfeld fbsmallbiz FinraFraud FinraStoleChristmas $MMTLP $MMAT
It will be a soft one right?
Thank Joe!
DC hates the peasants