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Steve Grasso, director of institutional sales at Grasso Global, draws attention to the U.S. Federal Reserve's mandate of moderating long-term interest rates and warns that maintaining higher rates could accelerate the growth of the U.S. deficit due to increasing interest costs.
Grasso points out that recent declines in CPI, a stagnant PCE, and a lackluster PPI reinforce his view that the Fed should consider rate cuts.
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Steve Grasso previously highlighted Meta’s $16.7 billion settlement as a move that reduced legal risk versus a far larger $1 trillion exposure and could prompt a relief rally. Details of the case were reported in Meta settles for $16.7 billion, Steve Grasso notes. Grasso’s recent comments continue his focus on significant financial developments affecting institutions.