Economist Tom Porcelli: Even with a 100 basis point rate cut, the Fed's policy is still tight

PGIM Fixed Income Chief U.S. Economist Tom Porcelli said that the current federal funds rate of 5.3% appears relatively high compared with the current consumer price inflation rate of less than 3%. Even if the interest rate is cut by 100 basis points, the Fed's policy is still tight. , policy was calibrated against significantly higher inflation and significantly lower unemployment, but those circumstances have changed. (Golden Ten)