• The U.S. Federal Reserve will cut the federal funds rate in June, according to a slim majority of economists polled by Reuters, who also said the greater risk was the first rate cut would come later than forecast rather than earlier.
• Reuters surveys since September have consistently predicted the first rate cut would come around the middle of this year. Markets, however, have gone from March to May, and now are priced for June as the most likely time for the first rate reduction.
• A strong majority of 86 of 104 economists in a Feb. 14-20 Reuters poll said the Fed would first cut the fed funds rate – currently 5.25%-5.50% – next quarter, similar to last month’s survey.

https://www.reuters.com/markets/rates-bonds/fed-cut-us-rates-june-risks-skewed-towards-later-move-2024-02-20/