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james bullard expects three rate cuts this year. we will bring you more from our exclusive interview on the global investment summit from hong kong, next. stay with us. this is bloomberg. ♪ >> james bullard says he is expecting three interest rate cuts this year as inflation moves toward the central bank target. he has been speaking exclusively to haslinda amin from hsbc's global investment summit in hong kong. click i think at this point you should probably take the committee and the chair at face value. i think the best guess right now is still three cuts this year and of course the data can go one way or another but that is the base case. i think it has been a very successful policy. the policy rate increased a lot during 2022 and inflation fell went a bit the second half of 2023. last year at this time, core pc inflation would have been 200 basis points higher than it is right now. that is the committee's favorite measure. you are looking at a very successful policy with a pretty strong economy. a lot of things going right for
james bullard expects three rate cuts this year. we will bring you more from our exclusive interview on the global investment summit from hong kong, next. stay with us. this is bloomberg. ♪ >> james bullard says he is expecting three interest rate cuts this year as inflation moves toward the central bank target. he has been speaking exclusively to haslinda amin from hsbc's global investment summit in hong kong. click i think at this point you should probably take the committee and the...
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louis fed president james bullard says the best case history cuts. spoke to him at the hsbc global investment summit. james: you should take the committee and chair at face value. their best guess is three cuts and data can go one way or another, but that is the base case. very successful policy, rates increased during 2022 and inflation fell. core inflation would've been 200 basis points higher, the committee's favorite measure. looking at successful policy with strong economy, so a lot of things are going right. haslinda: powell has been right? james: the committee has been right to pursue aggressive strategy. most was in 2022 and it bore fruit in 2023 and 2024. haslinda: the fed is data dependent, powell says he is data dependent. what does this mean and what data is he looking at? james: mostly inflation data because on the real side of the economy things are going well and you can argue why, but they are going well. committee does not have to worry about that side of the mandate. if all they have to worry about is getting inflation down to the 2
louis fed president james bullard says the best case history cuts. spoke to him at the hsbc global investment summit. james: you should take the committee and chair at face value. their best guess is three cuts and data can go one way or another, but that is the base case. very successful policy, rates increased during 2022 and inflation fell. core inflation would've been 200 basis points higher, the committee's favorite measure. looking at successful policy with strong economy, so a lot of...
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louis fed president james bullard. james bullard: my base case scenario is that inflation will continue to fall this year and i jotted down in march that we would have two interest rate cuts, 25 basis points this year. at was my base case and ariel. i explained that if we do not see progress in the inflation and it moves sideways, that would make me question, why do we cut rates. >> i think we should take the committee and the chair at face value. their best guess is three cuts this year. and of course, the data can go one way or another but that is the base case. haslinda: investors turning their focus to wednesday's cpi report as a key indicator of fed rate policy and direction of dollar-yen. the belief that the most important drivers of u.s. inflation are trending lower. let's bring in jin yuejue from jp morgan asset management. good to have you with us. your thoughts on what can be expected of the core inflation in particular. jim: our base case view is that we will continue to see inflation trending down but throu
louis fed president james bullard. james bullard: my base case scenario is that inflation will continue to fall this year and i jotted down in march that we would have two interest rate cuts, 25 basis points this year. at was my base case and ariel. i explained that if we do not see progress in the inflation and it moves sideways, that would make me question, why do we cut rates. >> i think we should take the committee and the chair at face value. their best guess is three cuts this year....
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Apr 5, 2024
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louis fed president james bullard taking us inside the world of the fed and the fed heads. all that and more at "squawk box" rolls on. two big hours ahead. nt? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we understand you, the better we can help you. that's what u.s. bank is for. huge relief. yeah... ♪ every day, more dog people, and more vets are deciding it's time for a fresh approach to pet food. they're quitting the kibble. and kicking the cans. and feeding their dogs dog food that's actually well, food. developed with vets. made from real meat and veggies. portioned for your dog. and delivered right to your door. it's smarter, healthier pet food. get 50% off your first box at thefarmersdog.com/realfood >>> a big day for investors. market action today when the march job's report is released. coming up in an hour and a half. walk you up to that critical data. >>> the market's tough start to the secon
louis fed president james bullard taking us inside the world of the fed and the fed heads. all that and more at "squawk box" rolls on. two big hours ahead. nt? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we understand you, the better we can help you. that's what u.s. bank is for. huge relief. yeah... ♪ every day,...
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louis fed chair james bullard. he says he still thinks there are three rate cuts on the table because he has taken the committee and their chair at their word. consider this, there is a potential problem. some committee hawks are growing more vocal with their concerns about cutting rates in the near term. we've had no policy dissents since june of 2022 but if we have a change with the dissents now that could really complicate a shift in policy moving forward. charles, send it back to you. >> as if we need more complications. lydia, thank you very much. i want to bring in investment management global chief economist, as well as chief strategist, frances donald. feels like the plot thickens more each day with respect to the federal reserve. i'm curious, how many rate cuts are you modeling for right now? >> we also have three. we take the fed at its word for 2024, yet, charles i find so interesting we're always talking about 2024 versus 2025. for most investors, whether it happens in the calendar year, the section nex
louis fed chair james bullard. he says he still thinks there are three rate cuts on the table because he has taken the committee and their chair at their word. consider this, there is a potential problem. some committee hawks are growing more vocal with their concerns about cutting rates in the near term. we've had no policy dissents since june of 2022 but if we have a change with the dissents now that could really complicate a shift in policy moving forward. charles, send it back to you....
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Apr 9, 2024
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annmarie: james bullard overnight saying listen to what they are saying. they are making a lot of calls and the base case is three. jonathan: the new york fed had to say in the survey yesterday, the perceived probability of debt payment over the next three months rest at 12.9% in march. it is the most since the onset of the pandemic. there are pockets of stress, building in the economy away from the surface level where things look decent. lisa: they are building and have been there but haven't gotten much worse. we heard it yesterday where she said she was seeing signs of weakness but now less so. it is the persistent sense that there are pockets of weakness but hasn't spread out to be pervasive. the pockets are moving at different speeds and it is hard to get an overall aggregate picture. jonathan: did you preface that in the mirror this morning, formal, -- womo, womo. jonathan: a little bit of a lift in the equity market. yesterday the headline was in the market. this morning yields coming back a little bit, down to basis points. we have an interesting w
annmarie: james bullard overnight saying listen to what they are saying. they are making a lot of calls and the base case is three. jonathan: the new york fed had to say in the survey yesterday, the perceived probability of debt payment over the next three months rest at 12.9% in march. it is the most since the onset of the pandemic. there are pockets of stress, building in the economy away from the surface level where things look decent. lisa: they are building and have been there but haven't...