FED LIKELY DONE RAISING RATES
From Business Insider, 8/11/23:
The Fed is likely done with its rate hiking cycle, and could start cutting rates in 2024, experts say.
​That's because inflation is rapidly cooling, with July's CPI report coming in below economists' forecasts.
​"They have to cut rates otherwise it's actually restricting the economy more," Fundstrat's Tom Lee said.
Fresh inflation data suggests the Federal Reserve is likely done hiking interest rates – and could even start cutting rates early next year, according to a pair of renowned market watchers.
The latest Consumer Price Index report showed inflation was 3.2% over the year to July. While that's above June's 3.0% increase, the figure came below economists' forecast of 3.3%.
"I think the Fed is done hiking for the cycle," Fundstrat's Tom Lee said in a CNBC interview. "I think they're going to be thinking about cuts early next year," he added.
"The Fed doesn't want to tighten rates, but if inflation is falling, they have to cut rates otherwise it's actually restricting the economy more," Lee added.
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