Oaktree’s Marks says Fed cuts won’t take US rates below 3%
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Howard Marks, co-chairman and co-founder of Oaktree Capital Management, stated that US interest rates will settle between 3% and 4% after Federal Reserve cuts, which are expected to begin in September 2024. He believes rates will not return to zero or near-zero levels, emphasizing that the emergency over inflation has ended. The Fed's meeting is scheduled for September 17-18, 2024, with traders divided on the extent of cuts. Oaktree manages US$193 billion as of June 30, 2024, and Marks noted that economic growth may slow and profit margins could erode, indicating a return to a 'normal' economic state. He also expressed confidence that China will not isolate itself globally, needing global cooperation to achieve its growth targets.

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