"Fed's Rate-Cut Plans Off Track, Bridgewater's Bob Prince Warns"

Bob Prince, co-chief investment officer of Bridgewater Associates, believes the Federal Reserve is "off track" with its plans to cut interest rates, stating that there's no reason to move out of cash into longer-term bonds due to the small risk premium. He suggests that the only reason to cut rates at current levels of economic growth and persistent inflation is if there was a big productivity boost. His comments add to the view that expectations for monetary easing this year have moved ahead too quickly, with views split across the market. The US inflation report today could offer direction on how the Fed may proceed.