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Recession will hit the US in 2024 – so get ready for massive interest-rate cuts, UBS says

George Glover
Tue, November 14, 2023 at 6:50 PM GMT+1

    The Federal Reserve will slash interest rates by an eye-popping 275 basis points next year, according to UBS.

    That's nearly four times as steep a cut as the market is expecting.

    UBS expects a mid-2024 recession to encourage the central bank to start easing.

The US economy will slip into recession next year – and that'll lead to the Federal Reserve bringing in steep interest-rate cuts, according to one top European bank.

UBS said Tuesday that it's expecting the Fed to respond to falling inflation and an economic slump by slashing rates by an eye-popping 275 basis points – nearly four times the 75-basis-point reduction the market is currently expecting, per the CME Group's Fedwatch tool.

https://finance.yahoo.com/news/recession...51903.html