The Federal Reserve (Fed) should be able to start cutting interest rates by the end of 2024, according to Kristalina Georgieva, managing director of the International Monetary Fund.
Key quotes
“We remain on our projection that we would see, by the end of the year, the Fed being in a position to take some action in a direction of bringing interest rates down,”
“But again, don’t hurry until the data tells you you can do it.”
“Inflation is going down.”
“But, it is not yet where we want it to be.”
Market reaction
At the press time, the US Dollar Index (DXY) was down 0.01% on the day to trade at 105.27.
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