 It's really too early to tell, and I find projections of exactly what we're going to do to be not optimal. The American people want to know we're on the job and we're going to pay attention to both sides of our mandate. In light of the still elevated inflation pressures, the Fed's policymakers earlier this month collectively predicted that they would cut their benchmark rate just once in 2024, down from their previous forecast of three rate cuts. Most economists expect the first rate cut to come in September, with possibly a second one in December.