Barclays raises Fed easing expectations, expects two rate cuts in 2024

Barclays economists adjusted their forecasts for Fed policy based on the June inflation data released this week and the cooling of the labor market. They now believe that the Fed will cut interest rates for the second time in December on top of the September cut. "We also believe that the FOMC is increasingly convinced that the monetary policy stance is restrictive, which should further convince the FOMC to cut interest rates in September and December," Barclays economists Marc Giannini and Jonathan Millar said in a research note. (Financial World)