Institutions: Powell offers little new guidance on rate cuts
Jackson Garton, co-chief investment officer at Makena Capital Management, says Powell was silent on providing new forward guidance at his press conference, and he made no comment on changing the summary of economic expectations. Short-term U.S. bond yields were virtually unchanged at the time of Powell's speech.Garton still thinks the Fed may choose to cut rates in December, but isn't sure. He said, ‘I think there's more than a 50 per cent chance that the rate cut will continue at the next meeting by 25 basis points, but I'm not 100 per cent sure.’
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