The global financial pro community believes that the Fed will not cut interest rates twice this year.

Some global financial pros gathered at the Future Investment Initiative conference in Saudi Arabia seem to suggest that the market’s bet on the Fed’s rate cuts may have gone too far. When asked if they thought the Fed would cut rates twice more this year, not a single person in a panel discussion attended by leaders from Goldman Sachs, Morgan Stanley, Standard Chartered, Carlyle Group, Apollo Global Management, and Duff & Phelps raised their hand. Most agree that the Fed may cut rates once more by the end of 2024. BlackRock CEO Larry Fink said at the Future Investment Initiative forum in Saudi Arabia that he expects the Fed to cut rates by at least 25 basis points this year. (Jin10)