The Federal Reserve held interest rates in June, announcing the decision after its FOMC meeting last week. While rates remain higher for longer, are there any signals as to when the Fed will start cutting rates?Former Chicago Fed President and CEO Charles Evans joins Market Domination to talk about the Fed's monetary policy outlook and what it will take for officials to start cutting rates while keeping on the path to their inflation target.
And so with uh core P ce at about two or three quarters right now, they're still a ways from that 2%. They are not very uh detailed, they are not detailed at all and what it takes in order for them to become more confident. Um So I, I think, uh you know, I don't know how many good inflation reports they're gonna need to see and I don't know for sure if the most recent good inflation report is gonna continue.But uh right now December looks like uh the modal bed and, and it definitely seems as though federal reserve members right now are, are by and large more concerned about our re acceleration of inflation than they are about a slowing of the economy.
They are undoubtedly embarrassed by the fact that inflation went up to 9% on the CP I 7% on the P CE and that it's their job to get inflation down to 2%.I would say that the risks are not that the most likely risk or not, that inflation is going to re accelerate. And yeah, it undoubtedly retail sales will soften at some point because of the higher interest rates.But at the moment, um looking at the economy, it still looks resilient, it still looks uh strong enough.
Democratic Sen. Chris Murphy said Sunday the Supreme Court is “readying to fundamentally rewrite the Second Amendment” after striking down a federal ban on bump stocks.Alicia Menendez mocked Trump over how he stacks up to Joe Biden in the wake of the president's appearance at the G7 summit.
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