Comments from the recently-retired KC Fed President:
- We certainly don't seem to be seeing a growth slowdown just yet.
- I'd be resetting my own expectations around how soon rate cuts should come and say the economy has held up pretty well.
- It is a strong jobs report for sure.
- They probably didn't get the jobs report till late yesterday afternoon.
- I think the Fed is well aware that inflation must be convincingly defeated before they make a move.
- You know seasonal adjustment factors all these things you got to maybe take January with a bit of a grain of salt
- I just think markets may continue to be frustrated by messaging that is a little more cautious around this idea of gaining greater confidence
- I think we could still see rate cuts certainly this year but how many and how quickly those start I think today's report is a reminder uh not to get ahead of ourselves on that
- There is vulnerability in banks on commercial real estate and often things can snowball depending on other events that happen
- I think fiscal issues are probably one of my biggest concerns and I think one that will have to be addressed.
- Highlights risks around the fed balance sheet
It's a candid discussion that you can see here.
