Fed Rate Cuts Likely as Inflation Projections Fall and Unemployment Increases
Sectors & Industries
July 24, 2024
Economists have lowered US inflation projections through mid-2025 and expect a slight rise in unemployment, prompting potential Fed rate cuts.
The core PCE price index is projected to end the year at 2.6%, with overall PCE at 2.4%. Unemployment is forecasted to average 4.2% in Q4 2024.
These adjustments reflect the Fed's tightening measures and a cooling economy, with a 30% recession chance in the next year.
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