Financial giant ING has predicted that the Federal Reserve will start cutting interest rates in the second quarter of next year. “We are currently forecasting 150bp of rate cuts in 2024 with a further 100bp in early 2025,” ING’s chief international economist detailed, noting that U.S. economic data confirmed that there’s “no need for any further Fed policy tightening.”
ING’s Fed Rate Cut Prediction
Global financial services firm ING’s chief international economist, James Knightley, published an article last week outlining why he expects the Federal Reserve to start cutting interest rates next year.
Citing U.S. data showing modest growth, cooling inflation, and a cooling labor market, the economist emphasized that it’s “exactly what the Fed wants to see.” He described:
This should confirm no need for any further Fed policy tightening … We expect rate cuts from the Fed from the second quarter onwards.
“We are currently forecasting 150bp of rate cuts in 2024 with
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