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Nomura on Friday forecast the U.S. Federal Reserve delivering a 100-basis-point interest rate cut in 2024 and reducing the pace of balance-sheet rundown in June, followed by an end to quantitative tightening in December.
Friday's government report showed that prices rose just 0.2% from November to December, a pace consistent with pre-pandemic levels and barely above the Fed's 2% annual target. Measured from a year earlier, prices increased 2.6%.
A daily rundown of the economic reports and corporate earnings that will be grabbing the market’s attention in the week ahead
The U.S. economy grew at an unexpectedly brisk 3.3 per cent annual pace from October through December as Americans showed a continued willingness to spend freelly.
Vincent Mortier, Group CIO of Amundi, Europe's largest asset manager, expects the US Federal Reserve to cut rates in June, not March, due to the softening economy and the need to support the US economy in an election year. Mortier also believes that the market is not prepared for this and there will be a repricing of stocks when investors realize that earnings will not grow as expected.