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Influential investor says US inflation and growth are not at levels where interest rates can fall
That is, as long as the data does not deliver a nasty surprise
Markets price in more than two quarter-point cuts, compared with more than six expected at start of 2024
S&P 500 closes down 1.2% in worst finish since mid-February and investors rush into Treasuries
Market failures occur because consumers are not the all-knowing rational agents that appear in economic models
US central bank needs ‘greater confidence’ before cutting interest rates, chair says
Price of metal climbs to record of $2,295 a troy ounce
Traders forecast benchmark rate will settle at about 3.5%
Top US monetary policymaker all but rules out cutting borrowing costs as early as May
Comments from central bank chief come after PCE gauge of price pressures ticked higher in February
Progress on taming price rises ‘has slowed and may have stalled’, according to Christopher Waller
They’re being too loud
Market Questions is the FT’s guide to the week ahead
Also in this newsletter: Apple under fire, falling fertility rates, science round-up
The Apollo economist on the Federal Reserve’s self-defeating pivot
S&P 500 and Nasdaq Composite reach record highs after central bank also raises GDP forecasts
And more on weakness at the low end of the economy
Strong US economic growth will not halt central bank’s plan to reduce borrowing costs this year
Economists forecast inflation easing from multi-decade highs without sharp rise in unemployment
And more on the low-end consumer
FT-Chicago Booth poll suggests bank will make two or fewer cuts this year, with the first between July and September
Retail sales reach a plateau while company executives see disposable income squeezed
Traders bet on three quarter-point cuts in 2024, down from expectation for six or seven at start of year
Fund managers turn to tech stocks after fears over lingering inflation recede
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