Interest rate cuts on the way… the big question is when? The US central bank has made a major pivot away from talking tough about further interest rises and is now openly hinting at interest cuts in 2024. On Thursday morning our time the Federal Reserve Bank kept US interest rates on hold as expected, but then said they were expecting to cut rates 0.75 per cent over 2024 if inflation kept trending down as expected. It was reinforced by Fed chair Jerome Powell at a press conference after the announcement. Naturally the pivot sent financial markets into a spin. Sharemarkets leapt higher, bond yields dropped. At the start of the year…
