Fed on Hold Would Break Market Mindset of Zero Rates: Jefferies

The transcript discusses the expectations of a third consecutive rate cut by the FOMC, with Jefferies being an outlier expecting no change. It covers market reactions, economic challenges, and the Fed's communication strategy. The discussion includes economic indicators like the labor market and personal spending, and the impact of global risks and financial conditions on rate decisions. The lack of pushback from Fed officials and the absence of a dot plot are highlighted as significant factors in the decision-making process.

What are the expectations regarding the FOMC's actions in the near future?

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How has the market reacted to the recent calls for rate cuts?

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What factors are currently challenging the economy according to the text?

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What signals are indicated by the lack of pushback from Fed speakers?

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What are the implications of the global risks mentioned in the text?

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