Fed is ‘disconnected’ from reality, must cut rates 5 times next year, portfolio manager says

(CNBC)The Federal Reserve needs to cut interest rates at least five times next year to avoid tipping the U.S. economy into a recession, according to portfolio manager Paul Gambles. Gambles, co-founder and managing partner at MBMG Group, says the Fed was behind the curve on cutting rates, and in order to avoid an extreme and protracted monetary tightening cycle it will have to deliver at least five cuts in 2024 alone.

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