“Chicago Fed President Goolsbee says if economy deteriorates, Fed will ‘fix it’
Chicago Federal Reserve President Austan Goolsbee spoke Monday morning on CNBC’s “Squawk Box.”
Still just a retracement as key levels are distant.
The move down is consistent with the repatriation argument during times of stress.
A close below 1,3834 would produce an outside day key reversal (questionable how well it works in FX). but 1.38 is likely most important in keeping the bid.
YES or NO
———
Earlier Dudley was screaming that his hair caught fire (in reaction to Sahm indicator)
Now ….” as speculation about hurried and dramatic interest rate cuts mounts”
more moRE MORE screamers:
Leading economist issues dire warning about the US economy
A leading economist has issued a dire warning about the US economy – tearing into the Federal Reserve for a ‘policy blunder’ that could send the country into recession. Mohamed El-Erian (Pictured), the chief economic advisor at Allianz, said on Sunday he fears the economy may be spiraling following a dismal unemployment report last week.
Wharton’s Jeremey Siegel on Monday called on the Federal Reserve to make an emergency 75 basis points emergency cut in the federal funds rate after Friday’s disappointing jobs report.
In addition, there should be “another 75 basis point cut indicated for next month at the September meeting — and that’s minimum,”
So here is THE bet:
Will the FED gang heed the screamers:
YES
NO
A look at the day ahead in U.S. and global markets from Mike Dolan
Whether the prospect of a U.S. recession is real or imagined, the mere return of the discussion has been enough to send world stocks and bond yields reeling just as AI doubts and a Japan-led volatility spike have barreled into holiday-thinned August.
And like many global selloffs before it, there’s the risk of a self-feeding spiral amid a frantic search for “safe” bonds as speculation about hurried and dramatic interest rate cuts mounts.