According to Odaily, Salman Ahmed, the Global Head of Macro and Strategic Asset Allocation at Fidelity International, has emphasized his basic prediction that there will be no rate cuts this year. The analyst stated that if inflation continues to make progress in the summer, or if the labor market begins to show some signs of pressure, they indeed believe the possibility of rate cuts this year is increasing.
Despite this, the US economy still has resilience. The inflation data released today was influenced by the sub-items of car insurance and air tickets, which means the threshold for initiating rate cuts is still high. Ahmed's comments come amidst ongoing discussions about the state of the global economy and potential monetary policy changes. His insights provide a valuable perspective on the potential trajectory of economic policy in 2024.