Powell pivot splits views on Fed rate scenarios for 2024

HIGHER-FOR-LONGER has ceased to be the consensus position on interest rate directions next year. Instead, investment managers are increasingly divided over how the United States Federal Reserve will move in 2024.

BlackRock Investment Institute’s chief Asia strategist Ben Powell is among those who still expects interest rates to remain elevated.

Even though inflation has come down, he noted that it remains significantly above the Fed’s targets.