Posted 4/10/2024, 3:47:00 PM
Fed Must Cut Rates to Tame Inflation, Says JPMorgan's Manley
- If Fed wants to lower inflation, it needs to cut interest rates, says JPMorgan strategist Jack Manley
- Lower rates would help reduce shelter costs, a key driver of inflation
- Housing supply is tight due to low mortgage rates and lack of inventory
- Chances of a Fed rate cut this year have plunged after hot March CPI report
- Fed needs to cut rates even with high inflation if it wants to hit 2% target, Manley argues