ACTV - The Market's Rate Cut Fantasy May Already Be Over
2024-02-04 07:05:00 ET
Summary
- The odds of a March rate cut have plummeted to around 20% and may move closer to 0% as Fed speakers return.
- Fed Chair Powell is unlikely to say anything different on a Sunday night than what was said at the FOMC press conference.
- The job report shows a structural shift in the labor market, with a high number of workers not in the labor force.
The job report and the FOMC meeting this past week clearly show that rate cuts aren't coming anytime soon. As a result, the odds of a March rate cut plummeted, to around 20%, and will likely move closer to 0% once the slew of Fed speakers return to the stage this coming week....
The Market's Rate Cut Fantasy May Already Be Over