THIS SEEMS LIKELY: The Fed will cut rates fewer times and start them later than market hopes, according to CNBC Fed Survey. “Just 9% see the Federal Reserve cutting rates in March. Fifty percent see a cut in May and only in June is there a majority of 70% predicting that rates go down. Futures markets, meanwhile, place a 37% probability on a March cut and around an 84% chance in May. And while futures markets have priced in between five and six rate reductions this year, survey respondents, on average, see just a bit more than three.”