Market expectations regarding the Fed rate path...

-Jan 31, 2024: Pause
-Mar 20, 2024: 25 bp cut. to 5.00-5.25%
-May 1, 2024: decrease by 25 bp. to 4.75-5.00%
-June 12, 2024: decrease by 25 bp. to 4.50-4.75%
-July 31, 2024: decrease by 25 bp. to 4.25-4.50%
-Additional reduction to 3.14% by December 2025

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