Fed's Waller: Inflation Risks Mean Fed Should No Longer Signal Cuts
Fed's Waller signals rates on hold indefinitely, ruling out cuts and leaving hikes on the table if inflation persists; Intuit announces 17% layoffs (~2,200 headcount) to redirect investment toward AI at the core of its product stack. For tech leaders, the combination of a restrictive macro environment and accelerating AI-driven workforce restructuring at major SaaS vendors sets the tone: budget pressure plus platform consolidation risk are both rising simultaneously.
Fed Governor Waller's hawkish Frankfurt speech signals possible rate hikes as PCE inflation hits 3.8%. Bitcoin drops below $77K as markets reprice risk.