Ratings agency S&P says FOMC will cut by 25bp in June, with 2 more to follow by year end

S&P comments and outlook:

  • U.S. real GDP growth of 2.4% in 2024
  • Inflation will
    likely cool further in coming months, despite the uneven
    disinflationary process so far
  • We have not changed
    our 2024 outlook for monetary policy
  • Believe the Federal
    Reserve will cut its policy rate by 25 basis points at its June
    meeting, with cuts totalling 75 basis points by year-end
  • U.S. economic
    expansion exceeded our expectations throughout the second half of
  • Beyond favourable
    year-end base effects, economic activity in the first quarter of 2024
    has been running warmer than we anticipated

Earlier from the Fed:

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