JP Morgan expect two to three cuts from the Federal Reserve in 2024, first in June

Via an analyst at JP Morgan Asset Management:

• projects US real GDP growth of around 2% for the year
• “Inflation is set to cool gradually, with the headline consumer price index (CPI) reaching the low twos by year-end”
• “This should in turn prompt the US Federal Reserve to deliver two or three rate cuts this year, likely starting at the June meeting,”
• environment supports a pro-risk stance

JPAM is overweight credit and equity.

We had Federal Reserve Chair Powell speaking on Wednesday US time:

• Forexlive Americas FX news wrap 3 Apr: ISM price data & Powell sends USD and yields lower

First Beyonce, now JPow?

This article was written by Eamonn Sheridan at www.forexlive.com. Source