SoFi Technologies CEO: Expects the Fed to cut rates by 75 basis points this year
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SoFi CEO Anthony Noto expects the Federal Reserve to cut interest rates by 75 basis points in 2024, which will stimulate loan demand and release investment cash. He proposed an immediate 50 basis point rate cut to boost economic activity. In addition, he stated that SoFi will optimize its balance sheet in a low interest rate environment, increase the underwriting of home mortgages and student loans to address the significant growth in loan demand. SoFi's stock price has risen slightly, but overall it has fallen by about 28% this year
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