Ken, let me first say, that we miss your daily bank posts, especially your biweekly CD and savings rate summaries. Because they are no longer available, I am now using other sources, which is too bad. I am sure I write for your fans, that we look forward to hearing more often from you and using this site more often again.
Second, based on listing to what the Chairman had to say and the latest labor news, I would agree with forecasts that give a 100% chance of a 25 basis point drop in the rate in Sept. Long term CD rates have already decreased from their over 5% high for a 5 year - now they are non at 5%.. I expect them to continue to decrease and savings rates to also decrease.
However, if suddenly inflation reared its head again, that could all change. I do believe him, when he states they are Data Dependent.