Novi: The Federal Reserve maintained interest rates at the July meeting, with the maximum impact of inflation expected to emerge by the end of the year
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Tony Rodriguez, Head of Fixed Income Strategies at Nuveen, stated that the Federal Reserve's decision to keep interest rates unchanged at the July meeting presents a dual challenge of slowing economic growth and the distorting effects of tariffs. The most significant impact of inflation is expected to emerge by the end of the year, with the core inflation rate projected to remain around 3.0% in 2025. Despite the slowdown in economic growth, Nuveen believes that the U.S. can avoid a recession, with a projected real GDP growth rate of about 1.0% in 2025. Municipal bonds and preferred loans remain attractive, with ample market opportunities
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