Amid the lingering uncertainty surrounding whether the Federal Reserve will cut interest rates, markets are grappling with the question of whether such a move can even materialize in 2024. Joining Market Domination to shed light on the outlook for the Fed's rate cut prospects is Jim Bullard, the former President of the St. Louis Fed.

Bullard acknowledges the ongoing trend, stating "the Fed's been looking for confirmation of the decrease in inflation." While he recognizes the substantial progress made in bringing inflation down over the past year, he notes that the central bank has not yet had "an opportunity to make that rate cut" in 2024.

Addressing the timing of inflation reaching the 2% target, Bullard expresses confidence in the accuracy of the Fed's dot plot: "You don't want to overshoot the target. You would like to asymptote towards the 2% target, at a nice smooth process that goes back down to 2%."

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Angel Smith