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What Could Change in 2025?

In our last note, we highlighted that most major economies were ending 2024 in a “Goldilocks” zone – not too hot (inflation and labor markets), not too cold (economic growth) – and they’re set to enter 2025 with solid…

Should the Fed Cut Interest Rates Today?

The market is confident that a 25-basis-points reduction in is a done-deal for today’s policy announcement, based on Fed funds futures. But the question of whether the should cut is more complicated. Recent data has been sticky, which…

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