Who sets interest rates? Is it the central banks... or is it the free market?
Given that the FED's dovish approach clashes directly with this forecast, it would suggest that it is the latter.
My opinion: the FED isn't a leader, but a follower of the worst kind. Consistently making mistakes at the tops and bottoms of markets. If the market pushes rates higher for long enough, the FED will follow.
Given that the FED's dovish approach clashes directly with this forecast, it would suggest that it is the latter.
My opinion: the FED isn't a leader, but a follower of the worst kind. Consistently making mistakes at the tops and bottoms of markets. If the market pushes rates higher for long enough, the FED will follow.