The US Federal Reserve will lead the pivot for richer countries after its policy makers signaled 75 basis points of cuts for the year, making an abrupt shift from previous warnings that rates could still go higher through much of 2024.
Readings on both headlines and core inflation continue to cool, led by goods prices with the services sector expected to follow, allowing officials to begin taking steps to ease the burden of borrowing costs on households and businesses.
“Central banks are looking forward to a victory lap as inflation tracks back to target with only a modest blow to growth," Tom Orlik, global chief economist. – Bloomberg
Fed Pivot Will Dominate Year of Rate Cuts
