The Fed will likely cut interest rates 4 times next year as the economy remains resilient

• US economic growth will remain resilient next year, making the Fed cautious about rate cuts, Barclays said.
• The Fed is expected to begin a "significant" easing cycle in the second quarter of 2024.
• The central bank will likely cut by 100 basis points in 2024 and another 100 points in 2025.

US economy will remain resilient next year, making the Federal Reserve cautious about rate cuts, Barclays said in a Monday note.

To be sure, consensus forecasts indicate economic growth will slow sharply, with real GDP expanding at an annualized pace of just 0.4% in first quarter and 0.3% in second quarter, down from an estimated average of 2.5% in 2023.