The expectation for cuts would be consistent with a recession and an accompanying fall in inflation.
that they see probably another quarter percentage point hike and then no cuts at least through the end of 2023.
The investing implications are ominous: BlackRock, which manages about $10 trillion in client money, says it is underweight stocks in developed markets such as the U.S. Instead, it recommends clients focus on investments like fixed income that is indexed to inflation, as well as very short-duration government bonds., the firm said, is coming largely because markets are still holding onto hope that the Fed starts to ease after a year of tightening that sent the benchmark federal funds rate up 4.
At the same time, officials estimate a 4.5% unemployment rate by the end of the year, from the current 3.6%. Getting there would require a loss of more than 571,000 jobs, according to an Atlanta Fed calculator.
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