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Fed Seen Curbing Rate-Cutting Plans With Inflation Staying High
Economists are divided over how many interest-rate cuts Federal Reserve officials will signal for 2024 at their policy meeting next week, following a pop in recent inflation figures. Policymakers are likely to back away from a longstanding forecast for three rate reductions this year, but it’s a close call on whether they will still pencil in two or not. A 41% plurality of economists expect the “dot plot” to show two cuts, while 41% expect the forecasts to show just one or no cuts at all, according to a Bloomberg survey. The Federal Open Market Committee, which has held its benchmark rate at a two-decade high ... (full story)