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Leading Financial Institutions Predict What Will Happen With Interest Rates Next Year

via CNBC
This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

Bank of America and Deutsch Bank both predict that the Federal Reserve will implement interest rate cuts in 2024.

BofA expects the cuts to occur in the second half of the year, while Deutsch Bank foresees a “mild recession” in the first half of 2024, leading to more aggressive rate cuts.

“2023 defied almost everyone’s expectations: recessions that never came, rate cuts that didn’t materialize, bond markets that didn’t bounce, except in short-lived, vicious spurts, and rising equities that pained most investors who remained cautiously underweight,” said Candace Browning, head of BofA Global Research. (Trending: Biden Shamefully Removes God From National Address)

“We expect 2024 to be the year when central banks can successfully orchestrate a soft landing, though recognize that downside risks may outnumber the upside ones.”

Michael Gapen, the bank’s head of U.S. economics, also said he expects the Fed to make its first rate cut in June.

Fed Chair Jerome Powell signaled possible rate hikes earlier this month.

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