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MNI PODCAST: FedSpeak - Too Much Emphasis on a Soft Landing

EXECUTIVE SUMMARY

  • Joseph Tracy, former senior adviser to Fed presidents Robert Kaplan and Bill Dudley, says at least two more interest rate hikes are needed to slow the economy and regain price stability -- and a mild recession is likely.
  • Inflation has fallen due to transitory effects so far, but will be hard to wring out of the system from here on out, says Tracy, nonresident senior fellow at the American Enterprise Institute.
  • The Fed's desire to avoid causing a recession around the presidential election could provide an incentive to leave policy unchanged.
  • Listen to the podcast here.
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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