Coming up, U.S. Consumer Sentiment hits a three-year low, government shutdown weighs on spending, Fed committee remains divided.
Matt Miller
Mike Contopoulos
You are beginning to see weakness in the labor market. Rates can continue to move lower, possibly in December or early next year.
Gargi Chaudhuri
We expect that the terminal rate will get closer to 3%, and that monetary policy will be moderating as inflation is coming down and no longer restrictive.
How does an investor deal with a data blackout? No jobs or CPI numbers.
Matt Miller
Mike Contopoulos
There is plenty of alternative data, but expectations for a rate cut in December are premature; with foggy outlook, Fed will go slower.
Gargi Chaudhuri
Rate cuts need to continue to reach the neutral level around 3%, but not necessarily in December due to lack of sufficient data.