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Andy Fately's avatar

I agree completely, the central banks, notably the Fed, are clearly quite keen to cut rates. The question I have is why? if the data is accurate, and that is a different issue, but if true, then the economy seems to be performing pretty well with the current rate structure and the employment situation remains solid. after all, Friday's NFP at 175K, while lower than expected is not disastrous! so what is driving this overreaching desire to cut rates? My view is Powell, who is a PE guy, may be hearing a lot from his pals at Carlyle and the other PE firms that high rates are killing them and so he is trying to respond to that. cynical? yes. but prove me wrong!

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