According to Odaily: Prominent voices from the global financial sector have cast doubt on expectations for further rate cuts by the Federal Reserve in 2024. Speaking at the Future Investment Initiative conference in Saudi Arabia, top executives from Goldman Sachs, Morgan Stanley, Standard Chartered, Carlyle Group, Apollo Global Management, and State Street showed little confidence in multiple rate reductions. When asked if they expected two additional cuts, none of the panellists raised their hands, with most aligning on a single potential rate cut by year-end.
BlackRock’s Larry Fink Expects Limited Rate Reduction
Larry Fink, CEO of BlackRock, also shared his cautious outlook, suggesting a single 25-basis-point rate reduction as the most likely scenario this year. This sentiment among financial leaders presents a more restrained perspective compared to market bets on multiple cuts, hinting at potential policy divergence as 2024 unfolds.