JPMorgan Econ FI-Interest Rate Derivatives Should I stay or should I go-107709805

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《JPMorgan Econ FI-Interest Rate Derivatives Should I stay or should I go-107709805.pdf》

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1. time before cutting as prices stall, Will take longer to get inflation down to 2% goal, Fed has to recalibrate, Real FF rate is "historically quite high", Tradeoffs between inflation, jobs is harder this year, Housing
2. Economy is slowing down, but slowing down slowly, Wage growth happening faster than inflation rate, Policy is currently restrictive, on path to 2% target, Not in a hurry to get to 2% inflation, can be patient, Sees
3. Housing resilience has been a surprise for me, Once inflation heading back to 2%, we can cut rates, Need to be patient until convinced inflation falling, We can wait as long as it takes before cutting rates, Could
4. Inflation is too high, still have a ways to go to 2%, Still on path to 2%, path will just be slow and bumpy, Won't be in position to reduce rates until end of year, Can keep rates steady as long as labor market holds

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