October 29, 2024
Finance Heavyweights Don’t Think Fed Will Cut Twice in 2024
When inquired about the possibility of two additional rate cuts this year, no executive on a panel comprising the leaders of Goldman Sachs Group Inc., Morgan Stanley, Standard Chartered Plc, Carlyle Group Inc., Apollo Global Management Inc., and State Street Corp. raised their hands. A majority concurred that an additional reduction may occur by the conclusion of 2024.
Prominent figures in finance convened at Saudi Arabia's Future Investment Initiative and implied that market expectations for Federal Reserve interest rate reductions may be excessive.
When inquired about the possibility of two additional rate cuts this year, no executive on a panel comprising the leaders of Goldman Sachs Group Inc., Morgan Stanley, Standard Chartered Plc, Carlyle Group Inc., Apollo Global Management Inc., and State Street Corp. raised their hands. A majority concurred that an additional reduction may occur by the conclusion of 2024.
On Tuesday, BlackRock Inc. CEO Larry Fink expressed analogous sentiments.
“We are experiencing a level of embedded inflation globally that is unprecedented,” he stated during a panel discussion. “Interest rates are unlikely to reach the low levels predicted by some analysts.”
