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📰 🔸FED’S 50 BASIS-POINT RATE CUT HINTS AT UNNECESSARY PANIC It is hard not to detect a whiff of unnecessary panic in the Federal Reserve’s 50-basis-point interest rate cut, says Julian Howard, chief mulit-asset investment strategist at GAM Investments. The is “marking the start of what many see as a cycle of interest rate cuts designed to support the U.S. economy as inflation settles back down to its 2.0% target,” he says. Meanwhile, U.S. unemployment remains at 4.2%, which is low by the standard of the last three decades, and the latest nonfarm payrolls report was also fairly robust at 142,000 job additions in August, he says.

September 19, 2024
Frank

🔸FED’S 50 BASIS-POINT RATE CUT HINTS AT UNNECESSARY PANIC

It is hard not to detect a whiff of unnecessary panic in the Federal Reserve’s 50-basis-point interest rate cut, says Julian Howard, chief mulit-asset investment strategist at GAM Investments. The is “marking the start of what many see as a cycle of interest rate cuts designed to support the U.S. economy as inflation settles back down to its 2.0% target,” he says. Meanwhile, U.S. unemployment remains at 4.2%, which is low by the standard of the last three decades, and the latest nonfarm payrolls report was also fairly robust at 142,000 job additions in August, he says.