Avery Shenfeld Quotes
Central banks continue to be guided by macroeconomic models that relate to an economy that no longer exists.
- Avery Shenfeld
Although financial markets have confidently priced-in a May rate hike, low core inflation implies that the case for risking growth by pushing rates higher is far from clear. If, as we expect, the economy were to show signs of a slowing by May, the Fed will want to give it the benefit of the doubt by standing pat at that point.
- Avery Shenfeld
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