Wells Fargo pushes back its expectation of first Fed rate cut to June-May 2024-www.financetom.com

Wells Fargo pushes back its expectation of first Fed rate cut to June

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Wells Fargo pushes back its expectation of first Fed rate cut to June

Mar 13, 2024 4:17 AM

(Reuters) - Wells Fargo on Wednesday said that it expects the U.S. Federal Reserve to start cutting interest rates in June, compared to its earlier expectation of a cut in May.

The brokerage expects 100 basis points(bps) of cuts this year and a further easing of 100 bps through 2025, bringing the fed funds target range to 3.25%-3.50% by the end of 2025.

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