Fitch no longer expects a US recession, forecasts three rate cuts
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FILE PHOTO: An eagle tops the U.S. Federal Reserve building's facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo
NEW YORK (Reuters) - Credit rating agency Fitch no longer forecasts a U.S. recession this year due to several signs of strength in the economy, Fitch Ratings’ Chief Economist Brian Coulton said in a webinar on Wednesday.
The Federal Reserve is likely to cut interest rates three times in 2024, he said.
Fitch last year downgraded the U.S. government’s top credit rating to AA+ from AAA, citing fiscal deterioration and repeated down-to-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills.
(Reporting by Davide Barbuscia and Matt Tracy)
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