Posted 4/9/2024, 8:12:37 PM
Asset Manager Predicts Aggressive Fed Rate Cuts Coming Soon Due to Economic Warning Signs
- State Street Global Advisors predicts the Fed will cut interest rates by 50 basis points by June and 150 basis points total by end of year
- The asset manager sees cuts coming due to economic weakness despite strong jobs numbers
- They point to rising credit card delinquencies and small business borrowing costs as signs of trouble
- CIO Lori Heinel says markets are underpricing likelihood of deeper rate cuts
- Upcoming US election may also factor into Fed decision to reduce rates
