Barclays expect 3 FOMC rate cuts in 2024 (vs. prior one)

Barclays have revised their projections for Federal Reserve rate cuts next year:

• expect the first 25bp rate cut in June, with two more to follow
• had previously been expecting one cut next year, in December

JPM and Soc Gen have already piled in:

• 175bp of rate cuts forecast from the Federal Open Market Committee (FOMC) in 2024