Expect the Fed to Put Conditions on More Rate Cuts

The Federal Reserve will lower interest rates Wednesday for the third time since July, erring on the side of caution in an effort to spur economic activity and offset risks to the outlook. Still, the data doesn’t justify an endless series of rate cuts, and the Fed will need to start signaling more explicitly to the financial markets what economic conditions will bring what the central bank calls a “mid-cycle correction” to monetary policy to an end.

Continued at Bloomberg Opinion….