This segment originally aired on December 5, 2023.
As Wall Street attempts to predict the Fed’s 2024 monetary policy moves, Harris Associates Co-Head of Fixed earnings Adam Abbas joins Yahoo financial Live anchors Julie Hyman and Jared Blikre to analyze the central lender’s outlook and the key macro forces causing uncertainty. Abbas believes the Fed is weighing risks not just to inflation, but also broader economic risks in charting its 2023 course. He notes Tuesday morning’s JOLTS data did flag some slowing, proving threats remain even after recent progress on inflation. Given lingering risks, Abbas believes industry expectations for cuts seem “too aggressive.” “I think if you show up late to a party, you generally want to stay a little later to the party to help clean up and make sure the messes are cleaned up,” Abbas tells Yahoo financial. “I think [Fed Chair Jerome] Powell is going to look at this the same way.
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