Coming out of the December FOMC meeting, Federal Reserve officials have opted to hold interest rates where they are for the remainder of 2023 and signaled up to three rate cuts over the next year.
Dartmouth College Economics Professor Andrew Levin reacts to the Fed’s rate decision, the direction of inflation, and what this economic environment may mean for US workers.
“When we think of a marathon, the last mile is like you’re 95% of the way there. The supercore [inflation] peaked at around 6% on a 12-month basis, right now it’s around 4% but it’s actually been heading up over the last three months,” Levin, a former Federal Reserve Board Special Adviser, tells Yahoo Finance. “That’s one of the things that makes me uneasy. it’s not heading in the right direction.”
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BAN Shortselling
If the Fed is only half way home in it’s battle with inflation, why is Jerome Powell promising 3 rate cute in 2024?
He is doing it to prop up and protect the stock market…They don’t care about the middle class…