External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

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External broker reports(aggregated public sources)

US Benign This Year: Trade Recession Over, but Rates Still Likely to Decline

US FOMC Projections Too Pessimistic; Two Rate Cuts Likely in 2024 as Inflation Abates

Non-Consensus Forecast: No Fed Rate Cut This Year

Macroeconomics

<ul><li>We have raised our 2024 growth forecast on the back of the more resilient labour market</li><li>Still, we expect some slowdown in growth, given evidence of rising financial stress from high rates</li><li>Despite stronger growth, we still expect inflation to fall sustainably back to 2% by mid-2024, keeping the Fed on course to begin lowering rates at the June FOMC meeting</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We have raised our 2024 growth forecast on the back of the more resilient labour marketStill, we expect some slowdown in growth, given evidence of rising financial stress from high ratesDespite stronger growth, we still expect inflation to fall sustainably back to 2% by mid-2024, keeping the Fed on course to begin lowering rates at the June FOMC meetingContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

US - Stronger growth unlikely to derail Fed rate cuts