IMF: Fed shouldn't cut rates before late 2024 - Breaking The News

IMF: Fed shouldn't cut rates before late 2024

27 June

1 min read

EPA-EFE/OLIVIER HOSLET

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said the IMF concluded that the United States Federal Reserve should keep interest rates at current levels "at least" until "late 2024."

Presenting the conclusion of the 2024 IMF Article IV consultation with the United States, Georgieva stressed that the Fed policy rate should be lowered "only after there is clear evidence that inflation is sustainably returning to the 2% target."

The IMF chief also noted the US economy is "remarkably strong" and that its GDP growth is expected to stand at a "healthy 2%" in 2024, compared to the previous 12-month period. She noted that the IMF sees core PCE inflation in the US at 2.5% and expects it to return to the 2% target by mid-2025.

inflation fed imf georgieva

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