Justin Ho

And not just because of persistent inflation.

And if the Fed keeps cutting rates while other central banks don't, Rogoff says investment will flow to the highest bidder.

The European Central Bank is likely to hold rates steady going forward, says Ben Shoesmith, senior economist at KPMG.

Shoesmith says the Bank of Canada is likely to hold off on rate cuts too, also thanks to better-than-expected growth.

Meanwhile, Australia's central bank has been concerned about inflation.

But while this divergence between the Fed and other central banks could cause capital to flow out of the U.S., that situation probably won't last very long, says George Perks, macro strategist with Bespoke Investment Group.

Perk says that's because global economies are just too interlinked.

Which means the Fed's rate-cutting cycle could soon be coming to an end.

I'm Justin Ho for Marketplace.