Interest rates are currently nestled at a 23-year high after the Fed launched an aggressive rate-hiking campaign two years ago.
Inflation is down considerably from a four-decade peak reached in the summer of 2022, but recent inflation reports have shown persistent price pressures in services and housing.
First rate cut in the summer?
Wall Street already wasn’t betting on a rate cut in May, but some analysts are estimating the first cut could come some time in the summer.
Analysts at Goldman Sachs, JPMorgan and Nomura are estimating a first rate cut in July.
Persons:
Jerome Powell, “, Powell, ”, ” Quincy Krosby, don’t, hasn’t, Goldman Sachs, Philip Jefferson
Organizations:
Washington CNN, Federal, Wilson, Fed, Congress, LPL, Atlanta Fed, Goldman, JPMorgan, Nomura, Bank of America, Barclays, Deutsche Bank, ”
Locations:
Wells Fargo, rebalance