BofA Merrill's Harris: Economy Not Great, Fed on Hold

The transcript discusses the Federal Reserve's current stance on interest rates, highlighting the slow pace of rate hikes due to economic uncertainties and global factors. It examines economic indicators such as GDP, labor market conditions, and inflation, noting the Fed's cautious approach. The market's reaction to the Fed's actions is analyzed, with a focus on the impact of global economic conditions. The transcript also explores the idea of rethinking inflation targets, as proposed by John Williams, considering the changing economic landscape since 2007.

What does the term 'frozen Fed' refer to in the context of current economic conditions?

How do global economic conditions influence the US bond market?

What are the potential risks of overshooting the inflation target according to the Fed's perspective?