Only one dissent was surprising and it shows the Fed “locked arms” to reduce policy from what was surprisingly restrictive to them, JPMorgan Asset Management Head of Global Fixed Income Bob Michele says on Bloomberg TV.
- He thinks the cut is good for the markets
- He’s not that concerned about inflation
- Fiscal, monetary policy to be accommodative
- KPMG Chief Economist Diane Swonk says the cut was an acknowledgment the labor market has weakened
- Cannot sustain full employment unless you derail inflation, Swonk says
- Powell will have to emphasize at press conference to watch what’s coming on in terms of how ...