๐ฅ"Rate cuts will be a topic"๐ฅ
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1. Jerome POW-ell.
Turn off the lights, close the doors. The show is over. Weโve (apparently) reached peak Fed funds rate.
Following fresh CPI inflation data (3.1% in Nov), jobs data, retail sales data (up 0.3% MoM vs. -0.1% estimated) and the two-day meeting of the Federal Open Market Committee (โFOMCโ), Fed chairman Jerome POW-ell seemingly shape-shifted from hawk to dove, announcing that the Fed funds rate would once-again remain steady at 5.25 to 5.5% and otherwise whispering sweet somethings into market ears like โI would say thereโs a general expectation that [rate cuts] will be a topic for us looking ahead.โ