Fitch responds to the FOMC and Powell – "we don’t see rate cuts until June or July"

<p>Fitch Ratings chief economist responding to the Federal Open Market Committee (FOMC) and Powell on Wednesday:</p><ul><li>was “clearly some pushback here against growing market expectations of imminent rate cuts.”
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“The Fed sounds quite cautious about prematurely reaching the conclusion that inflation is moving back to 2% on a sustainable basis and wants more time to assess the evidence."</li><li>"With scant evidence of a slowdown in growth, a still tight labor market and elevated wage and services inflation, we don’t see rate cuts until June or July”</li></ul><p>JPM still see June:</p><ul><li><a href="https://www.forexlive.com/centralbank/jp-morgan-forecast-the-first-fomc-rate-cut-in-june-but-are-wavering-on-perhaps-may-20240131/" target="_blank" rel="follow" data-article-link="true">JP Morgan forecast the first FOMC rate cut in June, but are wavering on perhaps May</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.