Gate News reports that on March 13, according to a Bloomberg survey, economists have pushed back their expectations for the Federal Reserve’s next rate cut from March to June, but still anticipate two 25 basis point cuts before the end of the year. The 46 economists surveyed expect a faster rate cut pace than the current futures market pricing and more than one cut above the median forecast of Fed officials last December. Among the respondents, nearly one-third expressed concern about Kevin Waugh, a Trump-nominated candidate for Fed chair. When asked whether they believe Waugh would commit to achieving the Fed’s 2% inflation target, 13% were unsure, and 18% said “no.” In the December survey, economists expected rate cuts in March and September, but in the survey conducted from March 6 to 11 (after the Middle East conflict erupted), respondents anticipated cuts in June and October. The median forecast indicates that economists expect interest rates to be between 3% and 3.25% by the end of this year.
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