Could be the Fed is primarily troubled by the bond market and the inverted yield curve. Instead of waiting for growth data to get bad, rate cuts now are an attempt to prevent what some think to be an inevitable recession. Some hedge fund managers are betting on more rate cuts to come and hedge fund manager Kyle Bass expects rates to return to zero.
https://www.ft.com/content/fa8cfc36-...c-fac8325aaa04
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