Fed Seen Signaling One More Hike and Pushing Out 2024 Rate Cuts
- FOMC to double US economic growth forecasts for 2023
- The first cut in the peak rate to come in May, economists say
Pedestrians near the US Treasury building in Washington, DC.
Photographer: Ting Shen/BloombergThis article is for subscribers only.
A resilient US economy will prompt the Federal Reserve to pencil in one more interest-rate hike this year and stay at the peak level next year for longer than previously expected, according to economists surveyed by Bloomberg News.
The Federal Open Market Committee will keep rates steady in the 5.25% to 5.5% range at its Sept. 19-20 meeting, the survey showed, and remain there until a first cut next May – two months later than the economists’ view in July.