Fitch expects Fed to cut interest rates in September and December

International credit rating agency Fitch Ratings reported that it expects the US Federal Reserve (Fed) to cut interest rates twice in September and December. In a statement from Fitch, it was reported that a "soft landing" is likely in the US economy with moderate inflation and low unemployment. The statement stated that the economic growth rate is expected to slow from 2.5 percent in 2023 to 2.1 percent this year. Fitch's statement emphasized that two interest rate cuts are expected in September and December. The statement indicated that the credit environment in the country is expected to be slightly weaker in the second half of this year and included the assessment that "Consumer spending growth continues well and will likely ease as nominal wage and employment growth slows. Housing demand is still strong but has softened recently with high housing prices, but purchasing opportunities may improve with falling interest rates."