Portfolio manager on Fed rate cuts: With inflation pulling back, the Fed is in a ‘good spot’

The Consumer Price Expenditures (PCE) Index — the Federal Reserve’s top inflation measuring tool — cooled in December, with headline and core PCE data rising below 3% year-over-year and closer to the Fed’s 2% target. Is this positive print enough to push Fed officials to initiate interest rate cuts?
Penn Mutual Asset Management Portfolio Manager George Cippolloni to discuss the Fed’s new position on inflation.
Thinking back “where we were a few months ago… there was a palpable sense of fear that we were going to go through 5%. Well, those days are over,” Cippolloni tells Yahoo Finance. “And fortunately now with the inflation pulling back, the Fed has room, I think there is about 125 basis points of cuts priced in for 2024. Coin flip whether it is going to be March or May in terms of the start, but they are in a really, really good spot and so far, so good for the Fed.
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