Pruisse: It is expected that the Federal Reserve will cut interest rates in December
Ken Orchard, the head of international fixed income and global multi-asset class bond strategy at T. Rowe Price, as well as the fund manager for diversified income bond strategies, pointed out that although investors have gradually lowered their expectations for a Federal Reserve rate cut in 2024, they still expect the Fed to cut rates by 25 basis points at its December meeting after the November U.S. election. The Fed hopes to avoid any signs that its decision to lower interest rates is politically influenced, so it may not take action at its September or November meetings. Fed officials seem intent on making one or two "preventive rate cuts" in 2024 to avoid an economic slowdown when inflation cools down.
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