Economist talks inflation, Fed's monetary policy, consumer spending and the economy
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- čas přidán 30. 05. 2024
- April's PCE (Personal Consumption Expenditures) Index print saw inflation come in line with monthly and annual estimates, but is that enough to push the Federal Reserve towards cutting interest rates?
abrdn Deputy Chief Economist James McCann talks about when the Fed could be initiate rate cuts, estimating when regulators will finally achieve their inflation rate target.
"For the Fed, they're going to be looking at at least three moderate inflation gains. And honestly maybe more," McCann says. "I think that rules out the June and the July meetings. It probably puts September as the first point at which they'd be comfortable easing, as long as things go their way on that inflation side."
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The Federal Reserve’s higher interest rate is increasing inflation, not reducing inflation. A major cost to business is interest on borrowed money. The Federal Reserve’s higher interest rates increase business cost which gets passed on to customers by increasing prices