Fitch responds to the FOMC and Powell - "we don’t see rate cuts until June or July"

Fitch Ratings chief economist responding to the Federal Open Market Committee (FOMC) and Powell on Wednesday:

• was “clearly some pushback here against growing market expectations of imminent rate cuts.”
• “The Fed sounds quite cautious about prematurely reaching the conclusion that inflation is moving back to 2% on a sustainable basis and wants more time to assess the evidence."
• "With scant evidence of a slowdown in growth, a still tight labor market and elevated wage and services inflation, we don’t see rate cuts until June or July”

JPM still see June:

• JP Morgan forecast the first FOMC rate cut in June, but are wavering on perhaps May