- I still have that belief that we can lower rates this year
- We're hearing from pretty much everyone that pricing power is pretty much at its limit
- That should help with further progress on the inflation front
- We are still seeing robust job growth
- It may take a while for labour market conditions to ebb further
- Still sees a single 25 bps rate cut as being likely for this year
- Thinking less of the extent of rate cuts but more on getting the timing right to start the cycle
It's still about the timing at the moment with markets favouring a September move. I'd take his comment on there being one rate cut only with a pinch of salt. If the Fed gets going in at any point besides December, we could easily see them go for another as long as the same conditions hold.
