Every: Nothing going as planned.

...Rate Cuts, Elections, BRICS, China and more

Michael touches on many hot topics in this one. The overall theme is: Nothing is going as planned. Each topic is summarized at bottom. Enjoy

A funny thing happened on the way to the...

by Michael Every, Global Strategist for Rabobank

A funny thing happened on the way to the rate cut

Pre-US CPI data yesterday, a friend bemoaned how monomaniacal markets are about “RATE CUTS!”, ignoring all else in their fixation on when the Fed, which doesn’t know what the economy looks like now or ahead, will finally lower the official cost of borrowing, which has already plunged in the real economy, and with this FOMC act maybe not having anything to do with underlying inflation drivers anyway.