Mid-Year Interest Rate Cut Forecasts for 2024

What We’re Showing

This graphic shows updated interest rate cut forecasts across 21 institutions as of June 10, 2024. Data is from institution reports via Nick Timiraos of the Wall Street Journal.

Key Takeaways

• Many institutions are trimming back their rate cut expectations this year given strong labor market data.
• Over half of the institutions seen in the above graphic anticipate the first rate cut to take place in September.
• U.S. interest rates have remained at 5.25-5.50% since July 2023, sitting at their highest level in 23 years.
• While inflation has moderated, the Fed is keeping a close watch on future inflation risks.