According to Jinshi: Amid discouraging GDP data, market participants have heightened their anticipation for a rate cut by the Federal Reserve. Futures related to the Federal Open Market Committee (FOMC) activities now indicate a cumulative rate cut of approximately 37 basis points in 2024, a slight increase from the 33 basis points prior to the release of the GDP data.
Attention now turns to the April's PCE inflation figures, a key barometer of inflation watched by the Fed. Consensus estimates predict both the headline and core PCE to remain stable, both month-over-month and year-over-year.
