After seeing in countless articles that we would see NO interest rate cuts, I came across this article stating that 3 cuts should be coming in 2024.
They are stating several factors for the change and one of them being that bankruptcies are on the rise and unemployment is also on the rise.
The experts are urging Chairman Powell to reduce the federal reserve rate because these high rates are having adverse effects on the economy.
According to these experts, when they plug in some interest rate assumptions, the calculations of 4.61%, 3.91%, and 3.61% came up as suggested rates.
Whether Chairman Powell takes heed and begins to cut rates, no one knows. Considering he previously stated there’d be NO rate cuts coming in 2024, I guess we will wait and see.
If you are thinking of buying, selling, or refinancing, call me, and let’s put a plan of action together.
Click Here to Read the Article
Source: The Street
|