The economy really has deteriorated quickly, enough that what seemed highly unlikely if not impossible early in July was very near to happened at the end of the month. I said a July Fed rate cut was in play on the 3rd and now according to the FOMC's minutes...it was. That, along with panicky central bankers seeking to quicken the pace of cutting, is definitely not a good sign.
Eurodollar University's Money & Macro Analysis
EDU YT This Could Force the Fed to Cut Rates in July
https://www.youtube.com/watch?v=B03jMrfetks
Pascal Michaillat, Emmanuel Saez Has the Recession Started? August 2024
https://pascalmichaillat.org/16.pdf
FOMC July 2024 minutes
https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20240731.pdf
Politico Sharp slowdown in wage growth boosts ECB rate cut hopes
https://www.politico.eu/article/big-slowdown-in-wages-boosts-ecb-rate-cut-hopes/
Bloomberg ECB’s Rehn Says Growth Risks Bolster Case for September Cut
https://www.bloomberg.com/news/articles/2024-08-19/ecb-s-rehn-says-growth-risks-bolster-case-for-september-cut
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
What is Eurodollar University?
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.