Will the Federal Reserve cut interest rates in 2024?

The Federal Reserve is signaling a shift in monetary policy as inflation begins to ease. Fed officials forecast interest rate cuts in 2024 and expect rates to fall to 4.6% by the end of that year. Traders are betting on even more aggressive rate cuts, starting as early as March. The Labor Department reported that inflation fell in November, and core prices rose at a slower pace. If inflation continues to fall, the Fed may cut rates more aggressively next year. The labor market remains strong, with job openings high and the unemployment rate falling to 3.7%.