I heard a more convincing case the other day that if the Fed doesn’t lower in the next few months, they won’t lower until after the election because they don’t want to be seen as partisan.
Discussion
I think we’ll see one drop, no more than 25 bps sometime next quarter and then they hold until after election and even then . . . this is the FED’s last reload of ammo. After they fire this, they’re all done.