Fed Won't Abandon Higher Rates Until Consumer Slowdown, Says Macquarie's Wizman

The Fed will not drop its ‘higher-for-longer’ interest rate narrative until it sees cracks on the consumer side of the market, says Thierry Wizman of Macquarie
The U.S. economy needs a slowdown in the consumer sector for the Fed to drop its ‘higher-for-longer’ interest rate narrative
The volatility in the world’s biggest bond market in recent weeks has been too much for U.S. stocks to handle
The U.S. Treasury market has been hammered by repeated selling since late September, sending yields on 10-year and 30-year Treasurys to pre-financial crisis levels
Interest rates will remain high deep into 2024 until underlying inflationary pressures ease