The most recent Bank of America global fund manager survey shows expectations are skewing towards Q2 of 2024 for the first Federal Open Market Committee (FOMC) rate cut:
Some of the other survey results:
- 60% expect weaker global growth
- 68% say the economy will see a soft landing
- 21% anticipate a hard landing
- 48% of fund managers forecast the start of a global recession will take place by the end of Q1 2024, 25% think the downturn will hit in Q4 of this year
- 45% see high inflation as the greatest market risk