Fed's Schmid: 2% Inflation Goal Not Expected to be Met by Fed Until 2026
Fed Schmid said that the Fed is not expected to achieve the 2% inflation target until 2026. The final stages of the inflation decline to 2% may be the most challenging for monetary policy. The Fed's quantitative tightening is to some extent at odds with interest rate cuts. The Fed's balance sheet stance continues to depress yields. Moves to halt the Fed's balance sheet reduction will now be opposed. It is not desired that moves to reduce the balance sheet lead to volatility.
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Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
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