Matthew Luzzetti, chief U.S. economist at Deutsche Bank, told Bloomberg TV he thought the Fed would do a 25-basis-point rate cut in December and then pause for the entirety of 2025.
When asked what prompted his view, he mentioned two factors.
“One, it’s just that the details of our underlying economy that we see now,” Luzzetti said. He mentioned the apparent continued resilience of consumers given spending patterns. In chained 2017 dollars — providing equivalent values in dollars and accounting for inflation — personal consumption expenditures were up 0.1% in June; 0.4% in July; 0.1% in August; 0.5% in September; and 0.1% in October, according to Bureau of Economic Analysis (BEA) data.
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