The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
BENGALURU, July 23 - The Federal Reserve will cut interest rates just twice this year, in September and December, as resilient U.S. consumer demand warrants a cautious approach despite easing inflation, according to a growing majority of economists in a Reuters poll.
Stronger-than-expected retail sales in June suggest consumer spending remains resilient and, along with a consensus view from the poll that the jobless rate won't rise much from the current 4.1%, argues for patience. "We expect a 25-basis-point reduction in the target range at the September and December FOMC meetings, barring a meaningful upside surprise in the inflation data," wrote Jonathan Pingle, chief U.S. economist at UBS.
While 16 expected one or no cut this year, 11 predicted more than two. Among 21 primary dealers polled, nearly 60%, or 12, expected the Fed to reduce rates twice in 2024. None of the measures of inflation - the consumer price index , core CPI, PCE and core PCE - were expected to reach 2% until at least 2026, according to median forecasts in the latest poll.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Markets are betting there's a 100% chance the Fed cuts rates in SeptemberWith inflation falling and signs of a slowing economy brewing, markets are increasingly confident the Federal Reserve will cut interest rates by the end of...
Read more »
There's still a chance Fed doesn't cut rates in SeptemberData from the CME FedWatch tool shows there is a 100% chance that the Federal Reserve will cut interest rates by September of this year. Corient partner Amy ...
Read more »
June jobs report raises pressure on Fed for September rate cutThe June jobs report showed unemployment approaching a three-year high and raised the pressure on the Fed to act on rate cuts in September.
Read more »
Markets today: U.S. stocks up as jobs spur calls for September Fed cutThe stock market headed toward fresh all-time highs, with traders looking past signals of an economic slowdown to focus on prospects for Federal Reserve rate cuts.
Read more »
Markets today: U.S. stocks up as path to September Fed cut gets widerThe stock market ended the week at all-time highs, with traders looking past signals of a slowdown in the world’s largest economy to focus on prospects for Federal Reserve rate cuts.
Read more »
Upcoming U.S. inflation data could spur Fed rate cut by September: economistOne economist says that incoming U.S. inflation data can prompt the U.S. central bank to cut interest rates by September, with a weakening labour market adding new urgency to policy decision-makers.
Read more »