Top U.S. asset manager Vanguard doesn't believe the Fed will cut interest rates this year

Vanguard doesn't expect the Federal Reserve to cut interest rates this year, defying the view from Fed officials that the central bank remains on track to reduce rates three times in 2024.The Fed on Wednesday left interest rates unchanged for the fifth consecutive time, as expected, keeping its benchmark overnight borrowing rate in a range between 5.25%-5.5%.It also said it still expects three quarter-percentage-point cuts by the end of the year.The message fueled a market rally in both the U.S. and beyond. ...