BRICS Expansion and Cooling Inflation Prompt Debate Over Potential 2024 Fed Rate Cuts
• BRICS expansion raises concerns about global de-dollarization and shift away from USD • Fed's preferred inflation gauge PCE index cools down, hinting at potential 2024 interest rate cuts • Mohamed El-Erian warns declining inflation could lead to premature Fed rate cuts • Peter Schiff criticizes Fed's rate cut plans given potential inflationary impact • Cathie Wood predicts 2024 deflationary period and remains optimistic on innovation