💸 The Fed's balance sheet fell by $21.37 billion in one week.
▪️Bostic, Fed Chairman:
– I think the Fed will cut interest rates once this year and four times in 2025.
▪️Daley, Fed Chairman:
- Good US macro data (PCE) came out today, but for now the Fed needs to continue the fight against inflation.
▪️Bowman, Fed Chairman:
- I am still not ready to support a Fed rate cut as inflation pressure remains elevated.
▪️IMF:
- The Fed should wait to ease monetary policy until the end of 2024.
- We predict one Fed rate cut this year.
📌 Market expectations (#Fed rate):
- July 31: Pause.
- September 18: decrease by 25 bp. up to 5.00-5.25%.
- November 7: Pause.
- December 18: decrease by 25 bp. up to 4.75-5.00%.
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