The Federal Reserve has projected just one interest rate cut this year, causing concern among economists who fear it may not come soon enough. Recent data shows a cooling in consumer spending and a rise in unemployment rates, prompting calls for the Fed to act quickly. Despite promising inflation data for May, economists warn that the momentum behind core inflation is softening and the labor market may be facing challenges ahead. Experts believe that delaying interest rate cuts could lead to a slowdown in the economy, particularly impacting small businesses and lower-income households. While stock markets have continued to perform well, there are lingering worries about the economy's stability. It remains to be seen whether the Fed will act in time to prevent potential economic challenges down the road.