Note to Fed: It’s okay to cut interest rates now

Source: Washington Post
by Jim Parrott & Mark Zandi

“It’s time for the Federal Reserve to declare victory in its war on inflation and cut interest rates. The Fed’s aggressive rate hikes have helped cool inflation, but its insistence on keeping rates higher for longer is based on a serious misjudgment of the role the cost of owning a home plays in inflation and threatens to do unnecessary harm to the economy.” (06/06/24)