State Street Predicts Half-Point Fed Interest Rates Cut By June
State Street Global Advisors is now predicting that the Fed will cut Interest Rates by 50 basis points as soon as this June, according to a Bloomberg report. The $3.6 trillion asset manager sees the Fed eral Reserve lowering rates after what has been over a year of high rates. By the end of the year, the firm expects reductions to total 150 basis points. This would be two and a half times what markets are currently pricing. The strong jobs report from last week raised optimism of fewer interest rate hikes. On the other hand, State Street also maintains the economy is not as strong as it seems. They point out indicators like credit card delinquencies and the cost of credit to small businesses that signal a downward turn later this year. JUST IN: $4 trillion asset manager State Street says Fed eral Reserve will cut Interest Rates by 50 bps by June and 150 bps by end of 2024. — Watcher.Guru (@WatcherGuru) April 9, 2024 Also Read: BRICS: US Economist Anticipa...