‘Pivot Party’ in Markets Looks Vulnerable With US Disinflation Stalling
‘It is a time for caution because everything is so stretched,’ FS Investments’ Rhame says
The headline reading for the US producer price index rose more than projected last month. Above: a worker operates a molding machine at a manufacturing facility in Kingston, New York.
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This is a confusing moment for the economic cycle. Federal Reserve Chair Jerome Powell wants to cut interest rates. Inflation isn’t cooperating. And companies keep making money regardless of relatively high benchmark borrowing costs.