Don’t Think a July Fed Cut Is a Given, Says Cornerstone Macro’s Perli

The transcript discusses the challenges of Senate confirmation for Fed nominees, focusing on the qualifications and controversies surrounding Waller and Shelton. It highlights market expectations for Fed rate cuts and the complexities of the Fed's decision-making process, including differing opinions among FOMC members and market predictions.

What is one of the main reasons why Waller's nomination is considered less controversial?

• He has no monetary policy experience.

• He has expressed a desire to return to the gold standard.

• He has been the Director of research for the Saint Louis Fed.

• He is a Nobel Prize winner.

Why is Shelton's nomination considered more controversial?

• She is a Nobel Prize winner.

• She has extensive monetary policy experience.

• She has been a director at the Saint Louis Fed.

• She supports the idea of returning to a gold standard.

What is the market's expectation regarding the Federal Reserve's action in July?

• The Fed will eliminate rates.

• The Fed will keep rates unchanged.

• The Fed will increase rates.

• The Fed will cut rates.

According to the FOMC dot plot, how many members thought the funds rate should be unchanged by the end of the year?

• Seventeen members

• Nine members

• Seven members

• One member

What is Loretta Mester's stance on a rate cut in July?

• She supports a rate cut.

• She is undecided about a rate cut.

• She is not ready to support a rate cut.

• She wants to increase rates.