ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
While many in the U.S. and around the world eagerly anticipate an expected rate cut from the Federal Reserve, University of Central Florida economist Sean Snaith thinks Federal Reserve Chair Jerome Powell and his board should wait a little longer.
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“I’m the black sheep of my family, too,” Snaith said.
The Fed began raising interest rates sharply from historic lows in 2022 to counter inflation, which hit over 8% at its peak. The Fed effective rate went from 0.2% in March 2022 to 5.33% by August 2023, which is where the rate sits in September 2024.
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