More from Daly: Fed funds rate is a long way from where it’s likely to settle

• Is cautiously optimistic about growth
• Fed has been able to get inflation down without a major disruption
• Inflation retreat has been broad-based
• Fed funds rate is a long way from where it’s likely to settle
• 3% rate may be around neutral
• Neutral rate is higher than what it once was
• Lack of dissents don’t mean Fed officials fully agree
• Inflation points are likely to cause more dissents

The bolded is a strong hint that cuts are on autopilot.

This article was written by Adam Button at www.forexlive.com.