Daily Alert: Kashkari floats no 2024 Fed cuts as markets await jobs data
- Market sentiment has generally tilted into negative territory overnight as markets prepare for the release of key US jobs data over the weekend – and digest the latest smattering of comments from Central Bank officials
- There have been a number of Fed speakers on the wires, with Chicago’s Austan Goulsbee dismissing the pickup in some inflation measures over the early part of the year, Cleveland’s Loretta Mester continuing to estimate three Fed cuts this year, Philadelphia’s Patrick Harker emphasising the continued strength in inflation and Richmond’s Thomas Barkin taking a cautious line.
- But markets have largely focused on comments from the Minneapolis Fed’s Neel Kashkari, who has acknowledged the risk that the Fed might not cut rates at all this year if inflation remains strong
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Mark Smith
Senior Economist
Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.
His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.
Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.
Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.
When not at work Mark likes to travel, keep fit and spend time with his friends and family.
- Email: Mark
Chris Tennent-Brown
ASB Wealth Senior Economist
Chris has worked as an economist for ASB and Commonwealth Bank of Australia in Sydney since 2005. His work has involved monitoring and forecasting trends in the New Zealand economy, with a focus on drawing implications for financial markets and investments. Chris is passionate about savings issues, and much of his current work is focussed on broadening peoples understanding of investments. Chris obtained a Bachelor of Commerce at Auckland University, majoring in Economics, and prior to joining ASB worked in the funds management industry for Bankers Trust and BT Funds Management. With over 20 years' experience in finance, Chris has also spent several years farming, and was a New Zealand representative cyclist. When not at work, Chris likes to travel, cycle, and spend time with his family and numerous pets.
- Email: Chris
