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Since the beginning of the year, I’ve been saying the same thing:I believe that the Federal Reserve is not in a rush to lower rates. In fact, we may not even see a Fed rate cut in 2024. This is quite possible, considering the current inflation rate. In recent months, it has only been accelerating, and it has not stopped. There is no guarantee that it will stop accelerating, and will not reach the Consumer Price Index, for example, at 4%. How many economists will be talking about the prospects of a rate cut in 2024 with such inflation levels as of at least June?
I also want to point out that some members of the FOMC have started feeling uneasy. Fed Chair Jerome Powell tried to “save face” until the last moment, and only a couple of weeks ago, he announced that the disinflation process had stopped, and expressed uncertainty regarding the timing for a potential rate cut. At the same time, other Fed officials are already hinting at the need for policy