According to a report by Jin Ten, Bank of America's February survey of global fund managers revealed that most respondents expect the Federal Reserve to cut interest rates this year. Some 77 percent of fund managers surveyed expect the Federal Reserve to cut interest rates in 2025, the survey showed. 46 percent of investors expect two rate cuts, 27 percent expect one, and 4 percent expect three. 19 percent of respondents expect no change in rates, the survey showed. Only 1 percent of investors expect the Fed to raise rates in 2025.