Q4’ 25 Update: There is no risk-free path

Following a 25-basis points rate cut last month, the Federal Reserve is returning to its neutral stance, marking the end of a year-long pause. However, a weakening labor market and persistent inflation, compounded by the absence of key data during the government shutdown, has created a lot of uncertainty. What does the path forward look like? Read more

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Q3’ 25 Update: Policy Patience Continues