Reported 7 months ago
Traders who were once optimistic about the US Federal Reserve cutting interest rates multiple times by the end of 2024 are now expecting the Fed to maintain its high rates and suggest only one or two cuts this year. Despite concerns over inflation and a US economic slowdown, Wall Street remains bullish with AI-driven gains and record highs for the S&P 500 and Nasdaq. However, big investors fear a potential policy error by the Fed, while the euro struggles against sterling due to political uncertainties in Europe. Key events to watch are the US CPI and the Federal Reserve meeting later in the day.
Source: YAHOO