- As Q3 winds down and Q4 begins, the broad investment climate is being shaped by the turning of the monetary cycle.
- The Fed has already acknowledged that the economy moderated in July and August, and it still went ahead with its signal that it will begin tapering in Q4.
- The eurozone publishes its CPI too, but its estimate is for September.
- There was a mini-drama recently about comments by a few board members questioning the accuracy of the staff's recently updated forecasts that saw inflation at 1.5% in 2023.
- Indeed, given these unprecedented times, we should discount long-term forecasts.
For further details see:
What's Next?