Central Banks
Fed Officials Say Three Rate Cuts a Reasonable Baseline for 2024
- San Francisco’s Daly says ‘no urgency to adjust’ at the moment
- Cleveland Fed’s Mester wants more evidence of easing inflation
Mary Daly during the National Association of Business Economics (NABE) economic policy conference on Feb. 16, 2024.
Photographer: Graeme Sloan/BloombergThis article is for subscribers only.
Two Federal Reserve officials who vote on monetary policy decisions this year said they still expect the US central bank to cut rates three times in 2024, though they’re in no rush to begin lowering borrowing costs.
San Francisco Fed President Mary Daly said the three rate cuts penciled in by Fed officials last month are a reasonable expectation, though there’s no urgency to make adjustments at the moment.