Consumer sentiment has dropped by over 10% month-over-month in May, according to the University of Michigan's survey, while still beating monthly forecasts. ...
, according to the University of Michigan's survey, while still beating monthly forecasts. In recent comments from this week, Atlanta Federal Reserve President Raphael Bostic believes
So they're trying to thread the needle between the price mandate and the employment mandate, trying to tackle inflation, trying to keep the unemployment rate low.So what you hear from fed officials, inflation has been stronger. And part of that was because there was so much excess savings, the economy, there was so much spending power and that just kept the US economy resilient and running.
And what that's telling us is that sticky inflation is making it harder for fed officials to cut rates.If the jobs numbers hold up, then it could be a fed that stays on hold for longer.We just see that in so much of the forward looking data.We'll have the fed cutting this year.We actually heard that from Governor Waller who said, you know, this is not just going to be one rate cut and then we wait for six months.Once we get started, I mean, Andrew, look, we came into this year.
Raphael Bostic Andrew Hollenhorst Consumer Sentiment Atlanta Federal Reserve Purchasing Managers Index Interest Rates
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