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Who's right: The Fed or the Financial Markets?
The bond market is again at odds with the Federal Reserve’s forecast for interest rates, placing nearly 50% odds of a rate cut at the September policy meeting as investors believe the Fed will be cutting rates as the economy falls into recession. However, the equity market continues be quite resilient in the face of rising recession headwinds. Nationwide’s Senior Vice President and Chief Economist, Kathy Bostjancic, and Deputy Chief Economist Bryan Jordan provide their outlook for Federal Reserve monetary policy and its impact on financial markets.
The skinny
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