Wall Street is starting to throw in the towel on another rate cut this year

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• A growing chorus on Wall Street sees the Fed unlikely to cut interest rates at all in 2025.
• The red-hot December jobs report prompted a hawkish shift from bank strategists.
• Some strategists say the Fed's next move might actually be a hike.

Wall Street is starting to come to terms with a dwindling likelihood that the Federal Reserve will continue its rate-cutting cycle this year. After a blockbuster jobs report, some expect no cuts at all in 2025.