Reported 7 months ago
A recent cooler-than-expected inflation reading is unlikely to prompt the Fed to alter its cautious stance on interest rates yet. While the Consumer Price Index (CPI) rose 3.3% in May, showing a deceleration from the previous month, economists believe this won't lead to immediate rate cuts. The Federal Open Market Committee is expected to hold rates steady at a 23-year high, with projections indicating a shift from expecting three cuts to possibly just two for the rest of 2024, based on recent inflation trends and expert opinions.
Source: YAHOO