Treasury yields slipped Monday, continuing a downward trend after Fed Chair Jerome Powell last week gave his strongest indication yet that rate cuts are near.
yield slipped Monday, continuing a downward trend after Federal Reserve Chair Jerome Powell last week gave his strongest indication yet that rate cuts are near."the time has come for policy to adjust."
"Inflation has declined significantly. The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic," Powell said in his hotly anticipated speech at the annual Jackson Hole symposium. ‘Very demure' catchphrase filed for trademark by Washington State man, not influencer who popularized trend
He did not, however, guarantee a cut at the Fed's Sept. 18 meeting, stressing that although"the direction of travel is clear ... the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.", putting the chance of a quarter percentage point rate cut at 63.5%, and the chance of a half-point reduction at 36.5%.
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