Breitbart Business Digest: Wall Street Expects More Cuts Than the Fed Does

When Federal Reserve officials met last month, their Summary of Economic Projections showed a median expectation for the target rate to be 5.6 percent at the end of this year. That’s the equivalent ofabove the current range of 5.25 to 5.50 percent. The median expectation for the end of 2024 was for 5.1 percent, which would be a quarter point below the current level or two quarter point cuts from the projection for the end of this year.

That’s a change from the September survey, which showed that respondents were expecting a cut near the beginning of next year. So, there has been some movement away from the idea that the Fed would start cutting rates less than a year after the July increase, whichThere’s still a sizable gap between the median projection of Fed officials and the responses in the CNBC survey. According to CNBC,, 50 basis points lower than the September median projection of Fed officials.

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Business economists report 'more challenging' business environment amid higher interest ratesZachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.
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