Nothing seems to be getting in the way of rate cuts as the Fed maintains its dovish stance.
Hotter inflation in January and February. Nope.
Strong payroll growth. Nope.
An economy that usually surprises to the upside. Nope.
A core CPI stuck at about 4 percent—double the Fed’s 2 percent target? Nope.
The Fed’s creed
Neither snow nor rain nor heat nor gloom of night…nor a high core CPI nor upbeat job growth nor hot inflation numbers at the top of the year stays the Fed from a June rate cut.
That was the general message from the March Fed meeting, and Dow, S&P 500, and Nasdaq closed at new highs on Wednesday and Thursday.
The Fed is itching to pull the trigger.
