Jun
19

Right Rate

When the Fed last met, economic data was looking good. Now, not so much. Manufacturing is probably in recession, inflation is weakening, the yield curve is inverted, the dollar is strong, and trade concerns are elevated. However, equities are near records, unemployment is ridiculously low, and household spending is good. Given the mix, the Fed’s decision to not change rates but signal a willingness to lower rates is spot on.

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