Wall Street's Most Accurate Analyst: It’s No Longer a Question of ‘When to Cut Rates,’ But ‘Will Rate Cuts Be Effective’
Bank of America’s chief strategist Hartnett believes that only significant rate cuts by the Fed can prevent a recession. If certain key technical levels are breached, Wall Street's narrative will shift from a soft landing to a hard landing. Hartnett suggests watching the U.S. July NFIB Small Business Confidence data released on Tuesday.
Hartnett, known as Wall Street's most accurate analyst, wrote in his latest Flow Show note that due to the "long-standing high real interest rates slowly and profoundly damaging U.S. consumers and the labor market," global rate cuts are no longer a question of "if" or "when," but whether rate cuts will be effective.
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