Famed economist Ed Yardeni's updated his Fed cut prediction to 'none and done' because the inflation battle isn't over

Ed Yardeni, founder of Yardeni Research Inc. (Credit: Christopher Goodney—Bloomberg/Getty Images)

Famed economist Ed Yardeni said earlier this year the Federal Reserve would be "one and done" when it comes to rate cuts—announcing one reduction and leaving it at that.

And in the wake of an unexpected 50-basis-point (bps) cut in September—double the 25 bps widely expected by the Street—Yardeni is now convinced Fed chairman Jerome Powell won't be lowering any further.