A newly published Reuters poll reveals that most economists concur: the U.S. Federal Reserve has likely capped its rate hikes. Yet, rate cuts aren’t anticipated until March 2024. This survey drops just as markets approach the annual Jackson Hole Economic Symposium scheduled for next week. All eyes are on Fed chairman Jerome Powell, as investors eagerly await his remarks.
Market Forecasts No Rate Cuts Through 2023; Powell’s Jackson Hole Remarks Could Shift Outlook
Following the recent uptick in the federal funds rate (FFR), the U.S. central bank is seemingly hitting the brakes. This sentiment is echoed by the lion’s share of economists surveyed by Reuters. Of the 110 economists polled, a staggering 90% – 99 of them – predict the rate will remain unchanged this September at the forthcoming Federal Open Market Committee (FOMC) meeting. Furthermore, about 80% opine that we won’t see any additional rate hikes for the remainder of the year.
CME Group’s Fedwatch Tool shows that
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