Evercore's Schlosstein Sees No Fed Rate Cuts in 1H of 2024

The transcript discusses the current economic indicators, focusing on inflation and growth, and their potential impact on Federal Reserve Chair Powell's upcoming speech. It highlights market expectations for interest rate cuts and the possibility of higher rates persisting longer than anticipated. The discussion also touches on the potential market reactions and the Fed's cautious approach to declaring economic victory, considering the risk of a mild recession.

What is the speaker's prediction about Powell's upcoming speech?

• He will focus solely on growth data.

• He will announce aggressive rate cuts.

• He will take a neutral stance.

• He will declare victory over inflation.

What is the market's current expectation regarding interest rates?

• Rates will remain unchanged.

• Rates will increase significantly.

• Rates will be cut next year.

• Rates will decrease this year.

What could negatively impact the markets according to the speaker?

• A sudden rate cut.

• A prolonged period of higher rates.

• A decrease in inflation.

• An unexpected economic boom.

What does 'higher for longer' refer to in the context of the video?

• Longer economic growth periods.

• Extended periods of high interest rates.

• Increased inflation rates.

• Prolonged fiscal deficits.

What is the speaker's view on the Fed's actions in the first half of next year?

• The Fed will cut rates significantly.

• The Fed will maintain current rates.

• The Fed will increase rates.

• The Fed will declare economic victory.