UBS Forecasts Aggressive Fed Rate Cuts in 2024 as Growth Slows, Unemployment Rises
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UBS forecasts the Fed will cut interest rates aggressively by nearly 3 percentage points in 2024 as economic growth slows.
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UBS expects GDP growth to drop to just 0.3% in 2024, down from 3% currently.
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The firm sees the unemployment rate rising over 1 percentage point to 5% by end of 2024.
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UBS forecasts the Fed will cut rates to 2.50-2.75% by end of 2024, slashing rates by 2.75 percentage points.
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UBS says lack of fiscal policy support will drive the Fed's aggressive interest rate cuts in 2024.