New York CNN —
2024 was supposed to be the year consumers could start breathing again.
After more than 20 months of inflation and higher borrowing costs, investors, economists and — eventually — Federal Reserve officials said they expected the economy to soften this year, allowing the central bank to finally start cutting rates.
But those expectations of a Fed pivot keep getting pushed back. While the market initially expected six rate cuts this year, starting in March, that’s now off the table.
“I don’t think it’s likely that the committee will reach a
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