Macquarie Sees a Hike, After Calling for Big Cuts

Economists at Macquarie have made a big about-face on their projections for interest rates in 2024. 

In December, Macquarie said that the Federal Reserve would aggressively cut interest rates in the second half of the year by as much as 225 basis points. Assuming the central bank moves the federal funds rate down by 25 basis point increments, that would equate to nine interest rate cuts just this year.