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TechFlow reports, citing Nick Timiraos, chief economics reporter at The Wall Street Journal, who stated on X that the March inflation report triggered a "jailbreak" among sell-side banks and other Fed forecasters, essentially abandoning their previous expectations for a June rate cut. Most now believe the first cut will not come before the third quarter, with many leaning toward only one or two rate cuts this year.
Wall Street Journal chief economics reporter Nick Timiraos said on X that the March inflation report triggered a "jailbreak" among sell-side banks and other Fed forecasters, who have largely abandoned their previous expectations for a June rate cut. Most now believe the first cut will not come before the third quarter, and many lean toward only one or two rate cuts this year.
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