Fed Likely Done Raising Rates; Rate Cuts Predicted as Early as March 2024

Despite Cooling Inflation, Fed Officials Not Ruling Out More Rate Hikes If Needed

• The Federal Reserve is likely done raising interest rates, with some economists predicting rate cuts as early as March 2024 due to slowing inflation and potential economic slowdown.
• Despite signs of cooling inflation, Federal Reserve Bank of Boston President Susan Collins is not ready to rule out more rate hikes if needed.
• Chicago Federal Reserve Bank President Austan Goolsbee expressed confidence that the Fed can meet its inflation goal without a rise in unemployment.
• Federal Reserve officials have signaled patience and resolve, emphasizing the need for measured policy adjustments and not ruling out a rate hike if needed.
• Financial markets are already anticipating potential Fed rate cuts next year, although Fed officials caution that core price pressures are still too high relative to the Fed's objective.

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