Terry Savage: The Next Direction For Interest Rates Is Down

Terry Savage, Chicago Tribune: Business
Wed, 08/28/2024 - 3:43pm

The Fed has spoken. Chairman Jay Powell clearly declared victory over inflation at his annual Jackson Hole, Wyoming, press conference. The next direction for interest rates is down. The Fed appears to have done the impossible: reduced inflationary expectations without causing a steep recession and loss of jobs. While inflation is not yet down to the Fed’s goal of 2%, it’s pretty obvious that the “expectations” of future inflation have dropped sharply.

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Terry Savage: The Next Direction For Interest Rates Is Down

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