There's no reason why the Fed should cut rates right now, JPMorgan market strategist says

Tue, 03/26/2024 - 14:17

Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on July 26, 2023 at the Federal Reserve in Washington, DC. The Federal Reserve announced that it will raise the interest rate by a quarter of a percentage point, bringing the benchmark borrowing rate to a range of 5.25% and 5.5%.
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There's no reason why the Fed should cut rates right now, a JPMorgan market strategist says.
The economy seems to be holding up fine, and growth projections for 2024 have only gone up.
"In the absence of anything breaking down, it's hard to see why they would do anything here."

Investors have been holding their breath for rate cuts from the Federal Reserve, but there's no reason the central banks needs to do anything at all right now.