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- Federal Reserve Shocks With Sudden Rate Cut Reversal – What This Means for Your Wallet!
Federal Reserve Shocks With Sudden Rate Cut Reversal – What This Means for Your Wallet!
Federal Reserve's latest forecast cuts 2024 rate hike expectations to just one, adjusting the year-end target to 5.1% amid fluctuating inflation rates.
Investments TLDR
June 13, 2024
Welcome to the latest edition of Investments TLDR, where we decode complex market trends into actionable insights.
Today, we're delving into the Federal Reserve's cautious stance on interest rates amid fluctuating economic signals.
In 2024, the Federal Reserve is projecting just one interest rate cut, a more conservative outlook compared to earlier expectations of multiple cuts.
Despite holding the federal-funds rate steady at 5.25%-5.50% during their June meeting, the Fed has adjusted its end-of-year rate forecast to 5.1%, slightly down from the current level.
This adjustment comes in response to unexpected inflation patterns observed early in the year, although recent data suggests inflation may be easing.
The article critically evaluates these projections, suggesting that if inflation trends continue to moderate, more rate cuts could be justified later in the year.
Key Figures & Stats
Current federal-funds rate: 5.25%-5.50%
Forecasted December 2024 rate: 5.1%
Initial 2024 projection: three rate cuts to 4.6%
Recent core PCE inflation: dropped to 2.8% annualized over the last three months from a high of 4.4% earlier in the year.
Stay tuned as we continue to provide the most pertinent financial news, distilled for your quick consumption.
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