Reported 7 months ago
The Federal Reserve left interest rates unchanged and predicted only one rate cut in 2024, with UBS Global Wealth Management Chief Economist Paul Donovan criticizing the lack of debate within the Fed, calling it troubling and dismissing the Fed's 'dot plots' as one of the worst ideas. Donovan emphasizes the uncertainty in the real world that the Fed should address. Despite Donovan's suggestion to remove the dot plots, he acknowledges the challenge in doing so due to the perceived transparency it offers. Donovan also discusses the Consumer Price Index and Personal Consumption Expenditures as indicators followed by the Fed, highlighting the importance of considering factors like inflation rates and labor market conditions in policy adjustments.
Source: YAHOO