Pimco's Clarida Sees a 'Very High' Bar for 2023 Fed Rate Cuts

The transcript discusses the potential for additional Federal Reserve rate hikes, noting that even dovish committee members have shown hawkish tendencies. It highlights recent banking dislocations and market reactions, suggesting these issues may resurface in discussions. The possibility of rate cuts is considered unlikely for the current year, with the Fed projecting a labor market slowdown without cuts. Any potential cuts are seen as a 2024 scenario.

What projections has the Federal Reserve made regarding the labor market and unemployment rate?

In what year does the speaker believe rate cuts are more likely to occur?