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Weather’s role in wildfires in Atlantic Canada | SaltWire #weather #climatechange #wildfireseasonBENGALURU - The U.S. Federal Reserve will cut its key interest rate twice this year, starting in September, according to a stronger majority of economists polled by Reuters who broadly raised their inflation forecasts for a second consecutive month.
"For the Fed to cut rates, we have to see a change in trend. One month of good news will not be enough to allow a cut, they need several months. There is a pretty significant risk they will do less than two." In the latest Reuters poll, economists broadly upgraded their 2024 outlook for inflation - CPI, core CPI, PCE and core PCE - for the second straight month."We readily acknowledge that it would not take much for the start of the cutting cycle to be pushed back until November. What's more, the risks to that call are heavily skewed toward there being one cut in 2024 as opposed to three cuts," noted economists at Wells Fargo.
An over-60% majority of economists who replied to an additional question, 26 of 41, said the chances were low or very low the Fed would hold rates for the remainder of the year.
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