Economist: The next Fed rate cut could be months away

Eric Winograd, senior economist at Alliance Bernstein, wrote that the Fed needs progress on inflation and "some weakness" in the job market before it can cut rates again, which could take several months. A rate hike is unlikely because there are no signs that inflation is accelerating again. Winograd said that in addition to the strong overall data, the three-month moving average increase in employment was the same as in November. The unemployment rate fell slightly from 4.2% to 4.1%, "having been between 4.0% and 4.2% for the past 7 months," Winograd believes, "There is no reason to expect anything other than the soft landing we are currently enjoying." (Jinshi)