298
Markets hit new record levels last week and the Dow Jones Industrial Average topped 40,000 for the first time in its 139-year history after inflation fell for the first time in months, raising hopes that the Federal Reserve could begin cut interest rates in September.
Fed officials toned down some of the worries in a series of public appearances, where they emphasized that they believe inflation is still too high. Whether the central bank will cut interest rates in the fall or not is the billion-dollar question. An interview with Tom Porcelli, PGIM’s chief US fixed income economist, talks about what could happen next and how it could impact the economy.
