The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024, one more reduction than predicted last...
BENGALURU - The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024, one more reduction than predicted last month, according to a slim majority of economists polled by Reuters who said a recession is unlikely.
The U.S. central bank will cut the federal funds rate by 25 basis points in September, November and December taking the range to 4.50%-4.75% by end-2024, according to 54% of those polled, 55 of 101. The unemployment rate is forecast at around the current 4.3% through 2026. Inflation is forecast to ease only slightly over the coming two years, according to median forecasts in the poll.
Two thirds of common contributors upgraded their 2024 growth outlook from last month. The economy was predicted to grow 1.8% next year. Markets and economists will keep a close eye on Fed Chair Jerome Powell's remarks on the economic outlook on Friday, the first full day of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming.Dartmoor Zoo's Leopard Finds Mate Via 'Animal Dating Site'
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