Tiffany Wilding
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Macroeconomic uncertainties prompted the Federal Reserve to signal a slower pace of policy rate cuts in 2025 and beyond.
Recent economic data support the Federal Reserve’s meeting-by-meeting approach to rate cuts.
Global economies are normalizing and central banks are cutting rates, we identified four themes investors should focus on as we head into 2025.
Securing the Soft Landing
The fixed income outlook remains strong across multiple economic scenarios as the U.S. Federal Reserve joins other central banks in cutting interest rates.
We believe the Fed is on a path to continue to cut rates over the next several meetings to realign monetary policy with a now more “normal” U.S. economy.
The central bank’s latest policy statement and Chair Jerome Powell’s remarks suggest that an initial interest rate cut could come as soon as September.
A second straight month of encouraging U.S. core CPI data supports an initial Federal Reserve rate cut as early as September.
Good news on U.S. inflation in May did not sway the Federal Reserve to signal interest rate cuts could come sooner.
April’s U.S. inflation report likely offers some comfort to Federal Reserve officials, but rate cuts are unlikely until we see a more substantial deceleration in inflation.