ZERO HEDGE reports:
The July FOMC meeting confirmed Powell and company are inching closer and closer to embarking on the interest rate cutting cycle. Rate traders are pricing in the first 25bps cut for mid-September. The Fed will only move into a cut cycle if inflation data cooperates and economic activity deteriorates.
The Fed’s interest rate hiking campaign over the last 2.5 years has dented consumer spending and corporate profits, with borrowing costs slowing down …
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