Fed Predicts Up to 5 Interest Rate Cuts Possible by 2024 as Inflation Nears Target
• Fed officials predict at least 1 interest rate cut in 2024, with most forecasting 3 cuts total and 1 official predicting 5 cuts • Rate cuts not guaranteed - depend on economic performance and inflation levels • Last cuts were in 2020 at pandemic onset and in 2019 due to trade war uncertainties • Common reasons for cuts recession/economic downturn or preemptive measure against slowing growth • Possible 2024 cuts would be due to inflation nearing 2% target, making current rates restrictive