Reported 2 months ago
Major brokerages, including JPMorgan, Citigroup, and Wells Fargo, have revised their forecasts to expect a 50 basis-point cut in interest rates by the Federal Reserve in September, following an unexpectedly high unemployment rate in July. This rise in unemployment, which reached 4.3%, has raised concerns over economic stability and potential recession risks, leading some financial institutions to predict multiple rate cuts before year-end.
Source: YAHOO