On April 1st, the Federal Reserve stated that in order to cut interest rates, confidence in inflation is necessary; Now is not the time to predict how many interest rate cuts will occur this year. The characteristic of stagflation in the 1970s was the misalignment of inflation expectations, but this situation has not been seen so far. Worried about inflation and employment, not in a hurry to cut interest rates. And it is stated that the reduction of the balance sheet may be slower and last longer.
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