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WSJ Timiraos: “The Dream of a Fed rate cuts is slipping away”

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The WSJs Timiraos is out with an article titled “The Dreams of Fed rate cuts is slipping away”.

A summary of the article says:

Fed Chair Jerome Powell and Inflation Expectations:

  • Powell has reduced expectations for interest rate cuts.
  • Recent economic reports have consistently shown inflation being more persistent than initially expected, contradicting hopes for significant rate reductions soon.

Economic and Inflation Data:

  • Commerce Department data revealed inflation has been stickier than anticipated for three consecutive months, following a period of relative improvement.
  • Growth has been more resilient, with GDP growing at a 1.6% annual rate, while underlying demand suggested a stronger 3% rate.

Inflation Trends and Adjustments:

  • Core inflation for Q1 rose at a 3.7% annualized rate, with a year-on-year increase of 2.9%.
  • Upcoming price data for March is expected to show continued strong inflation, potentially revising January and February’s data higher.

Market sentiment has shifted towards expecting fewer or no cuts this year.

For the full article CLICK HERE.

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