The Fed’s meeting last month saw Federal Reserve Chair Jerome Powell emphasizing the need for more evidence that inflation is easing before considering cutting rates. He indicated that interest rates are likely to be lowered later this year, but the timing is uncertain. Powell and other officials mentioned that they need further data to confirm that inflation is moving towards the Fed’s 2% target.
Atlanta Fed President Raphael Bostic mentioned that there could be just one rate cut this year, while other members of the Federal Open Market Committee have suggested three cuts. Markets are expecting the Fed to begin easing either in June or July, with a total of three cuts anticipated by the end of 2024.
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