The Federal Reserve will cut interest rates just 3 times in 2024, according to Goldman Sachs.
The bank lowered its forecast for 4 interest rate cuts after elevated inflation data.
AdvertisementHigher-than-expected inflation readings over the past two months have led Goldman Sachs to revise its 2024 interest rate forecasts.
The bank now expects the Federal Reserve to deliver just three 25-basis point interest rate cuts this year, down from its prior projection of four rate cuts.
Three interest rate cuts in 2024 is about half of what the market originally expected at the beginning of the year.
Persons:
Goldman Sachs, David Mericle, Mericle
Organizations:
Federal, Reserve