The Fed’s Pivot: Clear but Not an “All-Clear”
Matt Freund, Christian Brobst, Charles E. Carmody
January 4, 2024
We believe that the economy avoids recession altogether in 2024 and maintains a shallow growth trajectory with inflation falling below 3%, supporting our expectation that the fed funds rate will end the year roughly 100 basis points lower. Mindful of the risks in a decelerating economy, we continue to migrate the credit qualities of the Calamos fixed income funds higher.
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