It seems that the financial planets have aligned and driven many to decide that the Federal Reserve will be compelled to lower interest rates.
It's what Deutsche Bank's economists are predicting — 175 basis points off the current federal funds rate range of 5.25% to 5.5%, according to a Reuters report. That would reduce the federal funds target range to 3.5% to 3.75%. The last time the rate was lower than that was before November 3, 2022, according to data from the Federal Reserve Bank of St. Louis.
"Traders are currently pricing in a rate of 4.48% by December 2024, according LSEG data," Reuters wrote.
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