ING - Federal Reserve To Implement Six Rate Cuts In 2024 Amid Economic Slowdown Says ING | Benzinga
In light of a decelerating economy, ING Economics is forecasting a series of interest-rate reductions by the Federal Reserve in 2024.
What Happened: This strategic move, involving six rate cuts, is a response to the current economic slowdown, with the first cut expected in the second quarter of 2024 and continuing into 2025.
According to a report by Business Insider, the rationale behind these anticipated cuts stems from a combination of factors, including subdued inflation, a less dynamic job market and a less optimistic consumer spending outlook.
The chief international economist at ING, James Knightley, explained, "We have modest growth and cooling inflation and a cooling labour market — exactly what the Fed wants to see."
Knightley anticipates ...