S&P comments and outlook:

  • U.S. real GDP growth of 2.4% in 2024
  • Inflation will likely cool further in coming months, despite the uneven disinflationary process so far
  • We have not changed our 2024 outlook for monetary policy
  • Believe the Federal Reserve will cut its policy rate by 25 basis points at its June meeting, with cuts totalling 75 basis points by year-end
  • U.S. economic expansion exceeded our expectations throughout the second half of 2023
  • Beyond favourable year-end base effects, economic activity in the first quarter of 2024 has been running warmer than we anticipated

Earlier from the Fed:

Powell meeting with Congress
AI image