The U.S. Federal Reserve is broadly expected to raise interest rates by another 25 basis points at its next policy meeting in September, but market pricing suggests the central bank will begin cutting in 2024, according to the CME Group's FedWatch tool.
Veteran economist Jim O'Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides.is broadly expected to raise interest rates by another 25 basis points at its next policy meeting in September, but market pricing suggests that the central bank will begin cutting in 2024, according to the CME Group's FedWatch tool.
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