DataTrek: The Fed is far behind the curve in rate cuts

Nicholas Colas, co-founder of DataTrek, said the Fed is far behind the curve in cutting interest rates, but he does not think this will necessarily lead to a recession. He said a recession requires a catalyst to start, and so far nothing has happened in the United States that could trigger such a sharp economic slowdown. Powell and other senior officials have hinted that the Fed will cut interest rates later this month for the first time since the early days of the COVID-19 pandemic. (Jinshi)