, Columnist
A Higher-for-Longer Good Friday From the Fed
Powell makes it clear he’s in no rush to cut rates, markets believe him, and that’s not bad with an economy this strong
Waiting on the Fed is making sense.
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Maybe we need to channel Janet Jackson and accept that we should wait a while, before we go too far. That at least is the message the Federal Reserve has been trying to get across of late, and for once the data has backed the Fedspeak to the hilt. As a result, chances of imminent rate cuts have been marked down drastically, which should make for interesting trading in Europe once the continent reconvenes from the Easter break.