Macro Briefing: 14 December 2023

* Federal Reserve leaves rates unchanged, hints at cuts in 2024
* Fed trims core inflation forecast to 2.4% for 2024
* Record debt and high interest rates threaten global economy: World Bank
* Global oil demand has been slowing “drastically”, says IEA
* US wholesale prices flatline in November, pointing to softer inflation
* Business inflation expectations relatively unchanged at 2.4%: Atlanta Fed
* Federal Reserve expects rate cuts in 2024:

Rally in US stocks and bonds accelerate after hints from Federal Reserve that rates cuts for 2024 are on table. As a result, the 60% stocks/40% bonds asset allocation benchmark is on a path to post a strong recovery following last year’s sharp loss. US shares (VTI) are up nearly 24% this year as bonds (BND) rebound with a 4.5% gain so far this year through Dec. 13.

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