A trader works as a screen displays the Fed rate announcement, on the floor of the New York Stock Exchange on June 12, 2024.
Brendan McDermid | Reuters
RIYADH, Saudi Arabia — Major Wall Street CEOs see ongoing inflation pressures in the U.S. economy and aren’t convinced that the Federal Reserve will continue its rate-easing path with a further two reductions this year.
The Fed cut its benchmark rate by 50 basis points in September, indicating a turning point in its management of the U.S. economy and in its outlook for inflation. In late-September reports, strategists at JPMorgan and Fitch Ratings had predicted two additional interest rate trims by the end of 2024 and expect such reductions to continue into 2025.
The CME Group’s FedWatch toolputs the probability of a 25 basis point cut at this week’s November meeting at 98%. The current probability of the benchmark rate being taken down by another 25 basis …