MRB on P&I – February 2, 2024

Phillip Colmar, global strategist at MRB Partners, noted that “Fed Chair Powell went out of his way this week to suggest that disinflation and Fed rate cuts are independent of softer or below-trend economic growth,” he added. “However, today’s payroll release is problematic for the Fed.” Colmar added that the latest jobs numbers suggest that inflation will bottom out this year well above the Fed’s 2% target, limiting the amount of possible interest cuts.

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