Today on the program Fidelity Director of Global Macro Jurrien Timmer presents his weekly discussion on macro themes moving the markets and what trends and topics he has on his radar. This week Jurrien touches on a possible soft landing, what the most recent CPI and PCE reports indicate, and what’s on the horizon for the rest of 2023. Jurrien says if inflation does revert back to 2 to 3%, the Fed should be able to revert as well. That is from restrictive back to neutral. He adds, November has been a big relief for stock and bonds, as they have rallied as of late. And with the economy softening at the margins, Jurrien says the market could be justified at this point in saying the Fed could give back some of the rate hikes it has put out, even if we do go into a recession next year. Jurrien points out if we do get a soft landing next year, left-behind stocks, that are vulnerable to rising rates, could catch up quickly if rates start to fall.

Recorded on December 4, 2023.

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