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The Fed is wrong about how low interest rates will go: Bill Dudley
Taken together, higher average inflation and a neutral rate of 1% to 1.5% would imply a long-term federal funds rate of 3.5% to 4.0%. So while the Fed’s projections for 2024 look likely to be more accurate than the market’s at the start of the year, this time around it’s the central bank, not the market, that will probably have to adjust.