Former Fed President Broaddus Says July Rate Cut a 'Done Deal'

The transcript discusses the Federal Reserve's potential rate cut in July, emphasizing the persistent weakness in inflation as a key rationale. It explores the Fed's 2% inflation target, the diminishing relevance of the Phillips curve, and the Fed's mandate for price stability. The discussion also touches on global economic factors, such as trade wars and investment, and their impact on central banks' decisions.

What is the expectation regarding the July rate cut according to the text?

What factors are contributing to the Fed's decision to potentially cut rates?

How has the inflation rate performed in relation to the Fed's 2% target?

What is the significance of the Phillips curve in the current economic context?

What rationale does the Fed have for addressing the weak inflation rate?

How might the Fed's actions influence inflation expectations among the public?

What are the potential risks associated with the ongoing trade war and its impact on the economy?