Weekly Commentary

Farewell to Data Dependence

Farewell to Data Dependence…comments made by Powell at the press conference after the meeting, suggested a 25 basis point rate cut was all but in the bag for the next meeting at the end of July. But with six weeks between June and July’s meetings and a full economic data cycle, what we have seen so far shows that – if the Fed really is data dependent – they shouldn’t cut rates.

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