Join Washington Association of Money Managers and BlackRock on
Thursday, April 11th for a discussion on
U.S. Economic and Political Prospects for 2H24 and Beyond:
Should Markets Curb Their Enthusiasm?
Location:
Reed Smith, LLP
1301 K Street, NW
Suite 1000 – East Tower
Washington, DC 20005
Time:
Reception will begin at 6:00 PM ET
Panel discussion will begin at 6:30 PM ET
The U.S. economy remains robust buoyed by strong consumption spending with the Fed recently raising its year-end 2024 projection for real U.S. GDP from 1.4% to 2.1%. At the same time, the median projection for “core PCE” inflation by the end of 2024 was hiked to 2.6% (from 2.4% in December), implying little progress towards the 2.00% target by the end of the year and further increasing the higher-for-longer theme. With the perfect disinflation not yet a done deal, will this push out the rate cuts? The median Federal Open Market Committee (FOMC) participant is still looking for three rate cuts this year, though now sees a shallower path of cutting in 2025 and 2026 compared to the last forecast in December.
As higher borrowing costs erode corporate profit margins, hiring growth could slow leading to economic weakness in H2 2024. The onset of the Fed’s easing cycle could act as a potential guard against a deeper slowdown. However, there are risks in timing a rate cut as easing too much or too soon could lead to the inflation coming back. With the exact timing of the first rate cut remaining unclear, markets are also bracing for further volatility as the U.S. presidential election looms.
We are fortunate to have an all-star panel of seasoned industry experts to walk us through the economic, public policy, and consumer outlook for 2024 and beyond. Kate Fulton, Managing Director, heads the US public policy team within the Global Public Policy Group and co-heads BlackRock’s Washington, DC office. Jody Lurie, CFA is a Senior Credit Analyst in Bloomberg’s Bloomberg Intelligence division where she covers companies from the debt perspective in the gaming, leisure, lodging, restaurants and rental car sectors. Anna Wong is the Chief U.S. Economist for Bloomberg Economics where she leads on analysis of the U.S. economy.
Please note that the Chatham House Rule applies – neither the comments of the speaker nor those of other participants are for attribution.
Please register below by 6:00 PM ET on Thursday, April 11, 2024. The event is $0 for WAMM members and non-members. Please try to register early, as the space is limited!
Metro and entry instructions: Closest metro stations are McPherson Square Metro Station (Orange, Silver, and Blue lines) and Metro Center Metro Station (Red line). Attendees are required to check in with security in the main lobby. Please note that Reed Smith's building has two entrances. Reed Smith's tower is closest to 13th Street NW on K Street NW (next to Soho Cafe). Please bring your photo ID. After going through security, attendees will be let through the turnstiles and directed up to the 10th floor.