{"id":517628,"date":"2022-11-28T21:59:51","date_gmt":"2022-11-28T18:59:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/central-bank-could-cut-rates-in-2024\/"},"modified":"2022-11-28T21:59:51","modified_gmt":"2022-11-28T18:59:51","slug":"central-bank-could-cut-rates-in-2024","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/central-bank-could-cut-rates-in-2024\/","title":{"rendered":"#Central bank could cut rates in 2024"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a341258dac6a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a341258dac6a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/central-bank-could-cut-rates-in-2024\/#%E2%80%9CCentral_bank_could_cut_rates_in_2024%E2%80%9D\" >&#8220;Central bank could cut rates in 2024&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCentral_bank_could_cut_rates_in_2024%E2%80%9D\"><\/span>&#8220;Central bank could cut rates in 2024&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>New York\u00a0Federal Reserve President\u00a0John\u00a0Williams\u00a0on Monday declined to say how fast and how far he believes the US central bank will need to raise interest rates over coming months but reckons a rate cut is possible\u00a0in 2024 as inflation pressures ease.<\/p>\n<p>\u201cI do think we\u2019re going to need to keep restrictive policy in place for some time; I would expect that to continue through at least next year,\u201d\u00a0Williams\u00a0said at a virtual event held by the Economic Club of New York, noting that borrowing costs need to rise to bring down\u00a0inflation that is far too high.\u00a0\u201cI do see a point probably in 2024 that we\u2019ll start bringing down nominal interest rates because inflation is coming down.\u201d<\/p>\n<p>The\u00a0Fed\u00a0has boosted the cost of short-term borrowing aggressively this year\u00a0in its battle to curb inflation. By the\u00a0Fed\u2019s preferred measure, inflation has been\u00a0running at more than three times the central bank\u2019s 2% target\u00a0this entire year.<\/p>\n<p>While\u00a0Williams\u00a0pointed to some signs of progress in bringing down inflation, he said interest rates\u00a0needed\u00a0to rise further.<\/p>\n<p>\u201cHow high those rates need to be will depend on how the economy and inflation evolve,\u201d\u00a0Williams\u00a0said.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/john-williams-fed.jpg?w=1024\" alt=\"Federal Reserve Bank of New York President John Williams\" class=\"wp-image-24813764\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/john-williams-fed.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/john-williams-fed.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/john-williams-fed.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>While New York Fed President John Williams pointed to some signs of progress in bringing down inflation, he said interest rates needed to rise further.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Williams\u00a0is vice chair of the rate-setting\u00a0Federal Open Market Committee,\u00a0which holds its next policy meeting on Dec. 13-14.\u00a0The\u00a0Fed\u00a0has pushed through oversized 75-basis-point rate increases at its last four policy meetings, bringing the target rate to the current 3.75%-4% range.<\/p>\n<p>Fed\u00a0officials signaled both at the central\u00a0bank\u2019s\u00a0November meeting and in comments since then that they may find the space to slow the pace of\u00a0the increases in borrowing costs as\u00a0they close in on a resting point for their rate-rise campaign. That\u2019s opened the door to the prospect the\u00a0Fed\u00a0could raise its target rate by 50 basis points at the next gathering.<\/p>\n<p>Williams did not offer any guidance on his preferred size for the rate hike at next month\u2019s meeting,\u00a0or for the ultimate destination of the\u00a0federal funds rate, which most policymakers in September thought would be\u00a0between 4.5% and 5%.<\/p>\n<p>With economic growth expected to be in modestly positive territory this year and next,\u00a0Williams\u00a0said the unemployment rate will likely rise to between 4.5% and 5% by the end of next year, from\u00a0the current 3.7%.<\/p>\n<p>Still, he said, a recession is not part of his baseline forecast, though risks are to the downside.<\/p>\n<p>Meanwhile, slower global growth and improving supply chains should help lower inflation. Compared to the 6.2% rise in September in the\u00a0Fed\u2019s preferred inflation gauge, the personal consumption expenditures price index,\u00a0Williams\u00a0said inflation should ease to between 5% and 5.5% by the close of 2022 and to 3% to 3.5% next year.<\/p>\n<p>Williams\u00a0also said that the bond market has been holding up fairly well in the face of the\u00a0Fed\u2019s actions.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/28\/feds-john-williams-central-bank-could-cut-rates-in-2024\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Central bank could cut rates in 2024&#8221; New York\u00a0Federal Reserve President\u00a0John\u00a0Williams\u00a0on Monday declined to say how fast and how far he believes the US central bank will need to raise interest rates over coming months but reckons a rate cut is possible\u00a0in 2024 as inflation pressures ease. \u201cI do think we\u2019re going to need to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":517629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/john-williams-fed.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136309,5069,70550,70551,70552,5071],"class_list":["post-517628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-28-22","tag-economy","tag-federal-reserve","tag-inflation","tag-interest-rates","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=517628"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/517629"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=517628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=517628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=517628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}