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3 Reasons The Fed Is Wrong And It's A Good Time To Buy Treasuries
The Federal Reserve interest-rate forecast issued this week was more hawkish than almost anyone imagined. Despite what chair Jerome Powell acknowledged as three straight good inflation reports, policymakers now expect to hold their key rate a half-percent higher through 2024 than they envisioned in June. With the Fed still indicating one more hike is likely coming this year, policymakers are forecasting that over the next 15 months they'll cut the federal funds rate by just one quarter-point from the current range of 5.25% to 5.5%. The purported reason is the economy's recent surprising strength. Even with short-term ... (full story)