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BLUR Jumps 21%, Its Trigger Might Surprise You

Fed’s Goolsbee is on CNBC and says:

  • If coming from term premia, we have to take that into account.
  • You cannot answer what number on long-term yield equals enough tightening.
  • We are also getting positive supply-side developments in the economy.
  • The economy is weakening.
  • Job market is getting into better balance.
  • So far, the slowdown is what you would want, toward a more balanced growth and sustainable level.
  • Inflation has come down a lot.
  • We might equal the fastest drop in inflation in the last century.
  • As long as we are making progress on inflation, the topic is then only how long we keep rates at this level.
  • Inflation is more important part of the mandate right now.
  • I don’t like precommitting what rates will be at the next meeting.
  • Still a lot of data to parse before then.
  • My conditions for Fed being done with rates are that we are clearly back on path to get inflation back to 2%
  • So far we are on a good path on inflation, but not done yet
  • Priority for changing rates stances inflation rate
  • Financial conditions clearly matter, but market doesn’t get to tell the Fed what to do.
  • There is possibility of the “golden path” that allows us to get inflation down without recession
            This article was written by Greg Michalowski at

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