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To: Johnny Canuck who wrote (59385)	6/27/2024 6:18:25 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70004

SKIP NAVIGATION BREAKING NEWS Share Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email FEDERAL RESERVE IMF says Fed should hold interest rates where they are until ‘at least’ end of year PUBLISHED THU, JUN 27 20244:13 PM EDTUPDATED 2 HOURS AGO Hakyung Kim @HAKYUNGKIM_ WATCH LIVE International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during the 2024 CNBC CEO Council Summit in Washington, D.C. on June 4, 2024. Shannon Finney \| CNBC The Federal Reserve should wait to cut interest rates until “at least” the end of the year, according to the head of the International Monetary Fund. The U.S. is the only G20 economy to see growth above pre-pandemic levels, and “robust” growth indicates ongoing upside risks to inflation, the 190-country agency said. “We do recognize important upside risks,” IMF Managing Director Kristalina Georgieva said at a press briefing on Thursday. “Given those risks, we agree that the Fed should keep policy rates at current levels until at least late 2024.” The Fed’s current fed funds rate has stood within the range of 5.25% to 5.50% since July 2023. The IMF, often called the world’s “lender of last resort,” forecasts that the core personal consumption expenditures price index — the Fed’s preferred measure of inflation — will end 2024 at around 2.5% and reach the Fed’s 2% target rate by mid-2025, ahead of the Fed’s own projection for 2026. U.S. economic strength during the Fed’s rate-hike cycle was aided by labor supply and productivity gains, Georgieva said, while highlighting the need for “clear evidence” that inflation is coming down to the 2% target before the Fed cuts rates. Nonetheless, the IMF’s “more optimistic” assessment of the downward inflation trajectory is based on indications of a cooling labor market in the U.S. and weakening consumer demand. “I want to recognize that a lesson we learned from the last [few] years is we are at a time of more uncertainty. This uncertainty also lies ahead. We are confident, however, that the Fed will move through that, and certainly with the same prudence it has demonstrated over the last year,” Georgieva said. Correction: A previous version of this article misstated Kristalina Georgieva’s name. Don’t miss these insights from CNBC PRO These Nasdaq stocks are expected to fall as the latter half of the year begins Fundstrat’s Tom Lee keeps making bold stock calls — and nailing them Nvidia made chart history that could mark the stock’s top, says BTIG S&P 500 levels to watch if troubling chart patterns in Nvidia and other tech mean a sell-off is near View More TV Mad Money WATCH IN THE APP UP NEXT \| Last Call 07:00 pm ET Listen Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance CNBC on Peacock Join the CNBC Panel Supply Chain Values Select Shopping Closed Captioning Digital Products News Releases Internships Corrections About CNBC Ad Choices Site Map Podcasts Careers Help Contact News TipsGot a confidential news tip? We want to hear from you. GET IN TOUCH CNBC NewslettersSign up for free newsletters and get more CNBC delivered to your inbox SIGN UP NOWGet this delivered to your inbox, and more info about our products and services. Advertise With Us PLEASE CONTACT US Privacy Policy CA Notice Terms of Service © 2024 CNBC LLC. All Rights Reserved. A Division of NBCUniversal Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Market Data Terms of Use and DisclaimersData also provided by