Today at the conclusion of the Fed’s two-day meeting, Jerome Powell stated that as many as three rate cuts were on the table for 2024, with the committee’s dot plot matrix indicating approximately four cuts in 2025 and a few more cuts in 2026, bringing the Fed funds rate down to as low as 2.00%. This is a complete pivot in language at the Fed’s November meeting. Even as recently as December 1st, Jerome Powell said that talks of aggressive rate cuts was “premature”.