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Fed Summary Summary (7/9/24):

1️⃣The first bodies from 2024 do not support the data of the decline in the average and the path to reducing interest rates

2️⃣ Interest rate cuts are “inappropriate” until they increase in size to 2%

3️⃣ Lowering interest rates too late can weaken the economy without a filter

4️⃣ The US economy “expands at a strong pace”

5️⃣ Labor market conditions have calmed but remain “strong”

6️⃣ High level of damage that we do not face

Fed insurance needs to read the data before starting to cut interest rates.

@KobeissiLetter 
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