Golden Finance reported that Kenny Chung, portfolio manager of Astera Capital Partners, said that the Federal Reserve will raise interest rates by 25 basis points, causing the U.S. federal funds rate to eventually rise to 6%. Kenny Chung said, "When we look at history, in a bearish credit cycle, interest rates did eventually reach 7% to deal with inflation." He added that under the current circumstances, interest rates at this level look like "Too high". The market has yet to digest interest rates reaching 7%. He also predicted that the Federal Reserve may start cutting interest rates in 2025.

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