SAN FRANCISCO: The annual rotation on the U.S. Federal Reserve’s interest-rate-setting committee means its 2024 voting members lean slightly more hawkish than the outgoing group from 2023 - but that won’t budge the outlook for a pivot to interest-rate cuts next year.
In fact, plenty of analysts make the opposite argument: if inflation continues to fall more quickly than expected, Fed policymakers will want to reduce rates even more than the three-quarters-of-a-percentage point implied in fresh projections published last week.