Macro Briefing: 19 March 2024
Citing a growing economy and sticky inflation, he tells CNBC: “I’m in the camp that the Fed does not change policy in the summer of an election year…” The government bond market increasingly agrees, based on the policy-sensitive 2-year Treasury yield, which rose to its highest level since D…
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The central bank will likely leave rates unchanged until next year, predicts Jim Bianco, president of Bianco Research. Citing a growing economy and sticky inflation, he tells CNBC: “I’m in the camp that the Fed does not change policy in the summer of an election year. If they don’t pull the trigger by June, then it’s November [or] December at the earliest — only if the data warrants it. And, right now, the data isn’t warranting it.” The government bond market increasingly agrees, based on the policy-sensitive 2-year Treasury yield, which rose to its highest level since December on Monday (Mar. 18).
Author: James Picerno