Federal Reserve Bank of Chicago President Austan Goolsbee spoke to Yahoo Finance regarding how the Fed may decide to cut interest rates within the year, signaling that there may be three cuts. The number and timing of rate cuts may have a large ripple effect throughout the economy. Principal Asset Management Chief Global Strategist Seema Shah joins Yahoo Finance to discuss Goolsbee's comments and how potential rate cut decisions may impact the market. "Undoubtedly, the next three months of data are really pivotal in terms of deciding whether or not the Fed will get the rate cuts they're looking for. If on the off chance that you actually start to see see inflation take off again which will then push out rate cuts maybe into 2025 you do start to have a slightly more negative scenario for the economy, but as I said that's not the base case, but it is something we do need to watch out for fairly carefully right now," Shah states. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

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