on the current state of the economy, which investors will be listening to for cues on when the Fed could cut interest rates. On today's episode of Catalysts,I'm Shana Smith alongside Madison Mills.
Pell noted that the FED will continue to make decisions on monetary policy on a meeting by meeting basis. How expected to reiterate in his opening testimony that the fed is committed to bringing inflation back down to 2% and underscored that Congress has trusted the fed with operational independence to take a longer term view to meet the goals of maximum employment and price stability.
I think these comments are not too different than the ones that Chairman Powell had for Sintra the last week at the forum. I think there are a whole host of other factors at play here and there is a saying, don't really the pause fear the cut because a lot of unknowns are still there with regards to the cuts, the magnitude, the duration, what really is they are neutral?
However, if the monetary policy is still tight and restrictive and the fiscal impulse is not there, how would the economy react?So I feel you don't want to just get carried away by this narrative that the rate cut is going to really start solving all our issues with regards to the deficit spending and the market is going to go up in a linear projection from here on.Not just of the upcoming earnings cycle here, but of the third quarter earnings cycle.
So being a little bit more, you know, sort of active, makes a lot more sense and deep about going off that what you were just saying there, given the fact that the earnings bar has been set so high this quarter, those companies that do beat expectations exceeded what the street is looking for. President Biden will also be fighting to prove that he's fit for a second term and put some of those concerns to rest about his ability to lead for more for what's at stake we want to bring in Jim Townsend.So let's just start with what is at stake here for President Biden specifically and even beyond the foreign policy measures, which will obviously be talked about here over the next three days.
Given that you've got so many of these political figures who are facing a lot of volatility for their own jobs.Uh Of course, Macron has shown up, he's a weakened French president uh with a new team as well.So they do have a, an impact on what's decided.
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