Fed interest rate cuts more likely at end of 2025, says PIMCO's Jerome Schneider

Jerome, welcome. And let's start right into it. All the traders I deal with always seem to lately ask the same question.If you look at markets, whether you look at the S&P 500, the NASDAQ, the Dow, or 10-year yields from Liberation Day, the market certainly seems to be viewing future tariff uncertainty and negative aspects in a much different light than Fed officials and economists. And it seems like if you've kept up with the minutes, and I know you have, that the Fed's now split a bit. Is it safe to say t ...