The Congressional Budget Office predicts that the Federal Reserve will cut interest rates slightly this year

ChainCatcher News, according to Jinshi reports, the Congressional Budget Office (CBO) predicted on Thursday that the Federal Reserve may further cut interest rates slightly this year to address downside risks in the labor market. The CBO indicated that interest rates are expected to fall to 3.4% in the fourth quarter and remain at that level until 2028. Meanwhile, the CBO forecasted that the U.S. unemployment rate will decrease to 4.6% this year, and the PCE inflation rate favored by the Federal Reserve will drop to 2.7%.