Fidelity International: The Fed may not cut interest rates this year

Salman Ahmed, global head of macro and strategic asset allocation at Fidelity International, emphasized his base case for no rate cuts this year. The analyst said: "If inflation continues to make progress over the summer, or if the labor market starts to show some signs of stress, we do think the odds of a rate cut this year are rising. Nevertheless, the U.S. economy remains resilient, and today's inflation data was influenced by auto insurance and airfare sub-items, which means the bar for initiating a rate cut remains high." (Financial World)