Fed is 'way late' to cutting rates: Strategist
As the Federal Reserve prepares to announce its decision on interest rates, investors are hopeful for a rate cut. Michael Green, Simplify chief asset management strategist, shares his outlook on interest rates and the central bank's decision. Green characterizes the Powell Fed as "a series of panics," citing the collateral crisis rate cut, the "understandable panic" during the COVID-19 pandemic, and the 2022 decision to hike interest rates "at a pace that candidly didn't even give the market time to adjust itself." He notes that Powell has not displayed a "deep understanding in the role of interest rates controlling inflation." Regarding the Fed's next move, Green points out that post-July 2022 inflation levels have "largely been within the range of historical normalcy." He believes "the Fed is way late to this process of cutting interest rates," arguing that the economic data doesn't reflect the actual state of the economy. "We're actually very much in a situation where the Fed has created an animal that it now needs to figure out how to address as well," Green tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
