|
The economy really has deteriorated quickly, enough that what seemed highly unlikely if not impossible early in July was very near to happened at the end of the month. I said a July Fed rate cut was in play on the 3rd and now according to the FOMC's minutes...it was. That, along with panicky central bankers seeking to quicken the pace of cutting, is definitely not a good sign. Eurodollar University's Money & Macro Analysis EDU YT This Could Force the Fed to Cut Rates in July https://www.youtube.com/watch?v=B03jMrfetks Pascal Michaillat, Emmanuel Saez Has the Recession Started? August 2024 https://pascalmichaillat.org/16.pdf FOMC July 2024 minutes https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20240731.pdf Politico Sharp slowdown in wage growth boosts ECB rate cut hopes https://www.politico.eu/article/big-slowdown-in-wages-boosts-ecb-rate-cut-hopes/ Bloomberg ECB’s Rehn Says Growth Risks Bolster Case for September Cut https://www.bloomberg.com/news/articles/2024-08-19/ecb-s-rehn-says-growth-risks-bolster-case-for-september-cut https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU |