Posted 2/22/2024, 7:02:44 PM
Fed Set for Rate Cuts in 2024 Amid Bumpy Transition to Lower Inflation, Slower Growth
- Economic outlook remains one of soft landing in 2024, with GDP growth forecast at 2.2%
- Labor market still showing underlying strength though some cooling expected
- Consumers taking a breather after strong 2023 though still solid momentum ahead
- Bumpy disinflation path with CPI set to reach 2.1% by end of 2024
- Fed likely to start cutting rates in May or June, risks remain from inflation flare-up or overly restrictive policy