The US Fed will do a rate cut before the US Presidential election.
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how seriously should we be taking these projections?

@elf I think projecting March 2025 specifically is just an extrapolation, basically a total guess. All that can be said for now is that the Fed is in no rush to lower rates right now.

To look at it simply, Fed has indicated a future rate cut would likely depend on inflation dropping to their target of 2%. Their own projections show that may not happen for many months.