Economists raise U.S. inflation expectations, expect the Federal Reserve to cut interest rates only once this year

Golden Finance reports that on April 24th, economists have revised upward their expectations for U.S. inflation and stated that due to the Iran war causing energy costs to rise, the Federal Reserve is only expected to cut interest rates once this year. Additionally, forecasters believe that a price index excluding food and energy costs will increase more than previously anticipated, with both indices remaining at or above 3% throughout the year. They also pushed back their predictions for the timing of the Fed’s rate cuts to October 2026 and March 2027.