The Final Interest Rate Cut…For Now   The Federal Reserve closed the year with a widely expected third consecutive rate cut, lowering the federal funds target range to 3.50%–3.75%. Markets had effectively priced in the move before the meeting began with interest-rate futures implying roughly a 90% probability of a reduction. In the post meeting...Read More

Fed’s path forward remains uncertain…   With several Fed governor’s sharing their uncertainty about the need for an additional year-end rate cut, and along with Chair Powell’s similar comments recently, the likelihood of a mid-December rate cut now stands at 75%.  Last week the Fed’s preferred inflation gauge, the Personal Consumption Expenditure, was released with...Read More