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Markets Tremble As Fed Walks Back "Soft Landing" Odds | Adam Taggart & New Harbor
In continuing "higher for longer", the gravitational force weighing on the economy from current elevated interest rates will compound, resulting in "weaker for longer" economic growth. Powell knows this and re-emphasized (once again) that the full force -- i.e., the lag effect -- of the Fed's hiking & tightening regime has not yet manifested. Key takeaway: conditions are going to get harder from here, especially through next year.
The Fed is expecting the labor market weaken and unemployment to rise. I agree with this forecast, though the Fed's projected 2024 unemployment rate of 4.1% seems…
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