0708 GMT - The U.S. Fed is likely to deliver 75 basis points of rate cuts next year, UOB senior economist Alvin Liew writes in a note. The Fed signaling that the pace of easing may slow going forward was unsurprising, but markets were taken aback by the degree to which future cuts seem to have been pared back, Liew says. Fewer indicated cuts reflect expectations of higher inflation pressures from potential U.S. trade tariffs under the incoming Trump administration, UOB says. The brokerage stick to its call for three Fed cuts next year until it gets better clarity on President-elect Trump's policies in early 2025. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
December 19, 2024 02:08 ET (07:08 GMT)
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