July FOMC Preview: Too soon to pivot: The MUFG Global Markets Podcast

In today’s episode, MUFG Head of U.S. Macro Strategy George Goncalves provides an update on his latest views. George believes that market participants are in a tug-of-war on the inflation versus recession debate and are hoping that central banks will start to pivot their focus to recession risks versus inflation. Even if that is what will ultimately happen, George feels that it’s too soon for that to be the prevailing theme because the Fed is only now getting toward neutral levels of rates.

Listen to the podcast to hear George's base case for the upcoming July FOMC with expectations of one more 75bp hike in rates with chair Powell delivering a neutral message.

Disclaimer: www.mufgresearch.com (PDF)