Renaissance Macro economist Neil Dutta says the Federal Reserve is on the verge of making a serious policy mistake as various officials drift toward keeping rates steady instead of cutting next month.
Dutta argues in a client note published Monday that officials have misread the labor market, overstated inflation risks, and are now preparing to abandon proactive policy as conditions deteriorate.
The inflation picture, Dutta writes, looks far less threatening than the hawks contend. Throughout 2025, the narrative around tariff pass-through has shifted repeatedly. First came predictions that firms would raise prices preemptively. Then the theory…
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