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MNI PODCAST: FedSpeak-50BP Not New Easing Baseline-Roberts

MNI interviews former NY Fed executive Rick Roberts.

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EXECUTIVE SUMMARY
  • Ex-NY Fed executive Rick Roberts believes the Fed’s 50bp cut was a one-off – he sees two more quarter point cuts this year and then an uncertain path.
  • He thinks inflation is still sticky and it’s too early to declare mission accomplished, while the labor market and growth are still strong.
  • The depth of cuts will depend on a neutral rate that the Fed will have to identify as it goes along, which enhances the case for being gradual, he said.

Listen to the full podcast here

.

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EXECUTIVE SUMMARY
  • Ex-NY Fed executive Rick Roberts believes the Fed’s 50bp cut was a one-off – he sees two more quarter point cuts this year and then an uncertain path.
  • He thinks inflation is still sticky and it’s too early to declare mission accomplished, while the labor market and growth are still strong.
  • The depth of cuts will depend on a neutral rate that the Fed will have to identify as it goes along, which enhances the case for being gradual, he said.

Listen to the full podcast here

.