The Broadcasting Board of Governors (BBG), an independent agency of the US Federal Government, expects that the Fed has finished raising rates. The Fed is projected to keep rates at current levels through June 2024 and begin cutting rates in July 2024. However, these forecasts do not yet have an impact on market participants. Experience shows that similar events in the past have led to a weakening of the dollar in the short term and there has been an influx into the stock markets. In the meantime, we are seeing a clear nosedive in the main stock indices and a continued strengthening of the dollar, despite the fact that other countries are raising interest rates.
