Interest Rate Cuts Unlikely For a Couple of Years
Just because the Fed decided to maintain interest rates where they are doesn’t mean that a turning point for future decreases is on the horizon. On the contrary, Fed Chair Jerome Powell said cuts are unlikely for a couple of years, citing persistent inflation.
“[rate cuts] will be appropriate at such time as inflation is coming down really significantly, and again we’re talking about a couple years out, I think as anyone can see not a single person on the committee wrote down a rate cut this year, nor do I think it is likely to be appropriate…”
Watch the full statement
— Bloomberg Markets (@markets) June 14, 2023