“Did the Fed even need to cut rates in September, let alone cut by 50bps (basis points)?” Seema Shah, chief global strategist at Principal Asset Management, wrote in a note on Friday.
Second-guessing the Fed isn’t new, of course.
Central bank officials themselves note the uncertainty inherent in their work, especially when the economy reaches inflection points.
Even Fed officials don’t always agree with the central bank’s actions, such as Fed Governor Michelle Bowman, the lone dissenter to the Fed’s decision to cut rates by half a point in September.
‘This isn’t exact science’Fed officials aren’t shy about admitting that they don’t always have confidence in how the US economy will evolve.
Persons:
Washington CNN —, Jerome Powell, Philipp Carlsson, Seema Shah, James Knightley, Powell, don’t, Michelle Bowman, wouldn’t, —, ” Carlsson, Szlezak, “, ” Gina Bolvin
Organizations:
Washington CNN, Federal Reserve, Boston Consulting, Asset Management, ING, Bolvin Wealth Management
Locations:
Wall, Washington