According to Jinshi, the recent surge in inflation data has caused economists to disagree on whether Federal Reserve officials will signal a rate cut in 2024 at their policy meeting next week. A survey showed that 41% of economists expect the "dot plot" to show two rate cuts, while another 41% expect only one rate cut or no rate cut at all. Ryan Sweet, chief U.S. economist at the Oxford Economics Institute, said: "The Fed is waiting for a series of data to strengthen its confidence that inflation will continue to move toward its 2% target." The Fed will almost certainly keep interest rates unchanged next week, and fewer rate cuts will mean a later start, which may have an impact on the presidential election in November.
