The market is confident that a 25-basis-points reduction is a done-deal for today’s policy announcement, based on Fed funds futures. But the question of whether the Fed should cut is more complicated.
Daily Archives: December 18, 2024
Macro Briefing: 18 December 2024
US retail sales rose for a third straight month in November. Spending rose 0.7% last month, beating expectations. “We ultimately expect this will be a decent holiday sales season for retailers,” writes Tim Quinlan, an economist at Wells Fargo, in a note to clients. “It’s not going to knock anyone’s socks off in the wake of record pandemic gains, but continued consumer momentum means it’s unlikely to be overly weak either.”
