-
Flashlight for the September FOMC Blackout: Cuts to Begin Again
From wellsfargo.bluematrix.com
The FOMC held the fed funds rate steady at the conclusion of its July 30th meeting, the Committee's fifth straight hold. The decision reflected still-elevated inflation and a constructive view of the jobs market based on the data in hand at that time. That said, the decision was not unanimous; Governors Waller and Bowman dissented in favor of a 25 bps cut. We expect the FOMC to resume lowering the fed funds rate at its September meeting with a 25 bps cut that would bring the policy rate to a range of 4.00%-4.25% (Figure 1). Although the FOMC has been on hold for the past eight months, a bias toward further easing has ... (full story)