The Federal Reserve will cut interest rates 6 times in 2024 as the economy shows clear signs of cooling down, ING says

• The Federal Reserve is poised to cut interest rates six times in 2024, according to ING Economics.
• The interest rate cuts will be in response to a slowing US economy. 
• ING Economics said cuts will start in the second quarter and extend well into 2025.

An economy that is showing clear signs of decelerating means the Federal Reserve will cut interest rates at least six times in 2024, according to a Thursday note from ING Economics.

Moderating inflation, a cooling jobs market, and a deteriorating outlook for consumer spending means the Fed will need to cut interest rates more than the market currently expects.