The Federal Reserve is reconvening later this week for its fourth interest rate meeting of the year.
The latest numbers show the U.S. economy is going strong. While unemployment is up slightly, so are job growth and wages, while inflation is trending down.
But because the latest data is painting an optimistic view of the economy, the likelihood of a rate cut is looking slim. Kulkarni said the latest economic news is exciting, with hundreds of thousands of new jobs added in May and inflation slowing once again in April."You cannot ask for a whole lot better sign for a very strong macro economy," Kulkarni said."My hunch is that the Federal Reserve will shy away from lowering the interest rate this whole year."
Annual inflation has fallen drastically since its peak in 2022, ticking up in early 2024 before slightly dropping again in April to 3.4%, still above the Fed's 2% target.
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