Top U.S. asset manager Vanguard doesn't expect the Federal Reserve to cut interest rates this year, defying the view from Fed officials that rates will be reduced three times in 2024.Sycamore Tree Capital Partners' Mark Okada told CNBC last week that there's a "good chance" the central bank doesn't cut in 2024.Vanguard doesn't expect the Federal Reserve to cut interest rates this year, defying the view from Fed officials that the central bank.
"So, it depends on the reason why … If it is because of the strong economy, especially supply-side driven growth, which is also disinflationary, then perhaps the stock market can continue that rally. But also at Vanguard, what we also believe is that the U.S. equity market is relatively overvalued at this stage."
Mark Okada, co-founder and CEO of Sycamore Tree Capital Partners, told CNBC's "Closing Bell" last week that there's a "good chance" the central bank doesn't cut rates in 2024.With regards to when other central banks will start cutting rates, Raithatha said "there is a bit of cat and mouse going on here."
"I would say the key thing for the is what happens to the euro. Currently, markets are pricing in a fairly similar path for the Fed and for the ECB. We take a slightly different view to that."Closing Bell
Source: Loan Digest (loandigest.net)
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