Fitch: Fed signals interest rates 'near peak'
Fitch analyst Brian Coulton stated in a report that the Federal Reserve sent "a strong signal" that it believes "interest rates are nearing their peak". Previously, the Fed maintained high interest rates while stating that the economy is slowing down and lowered its forecast for interest rates in 2024.
However, the tendency towards tightening policies is still maintained, with the statement retaining the wording of "any additional policy tightening", indicating that the Fed is still concerned about sticky services, wage inflation, and tight labor market conditions. Fitch expects the federal funds rate to reach 4.75% by the end of next year, which is significantly higher than the current market expectations.
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