Forbes
What To Expect From The Fed’s May Interest Rate Decision
Markets expect interest rates to be held steady at the Federal Open Market Committee’s next decisionon May 1. Inflation data for early 2024 has caused some concern that the transition to an annual 2% inflation rate may take longer than previously anticipated.
The market will be watching for clues for when any interest rate cut might occur. Currently, fixed income markets imply that interest rates could be cut at either of the FOMC’s July or September meetings. Hence interest rates are unlikely to move at the Fed’s June meeting either. This would mean that the first interest rate cut would come at least a year after the FOMC’s final interest rate hike from July 2023.
The consensus of FOMC policymakers was to anticipate two or three cuts in 2024. That came at the most recent update on March 20.
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