Reported 12 months ago
The S&P Global Ratings chief global economist, Paul Gruenwald, anticipates that an interest rate cut could potentially occur as early as September given the recent ISM Services June Purchasing Managers Index (PMI) falling below expectations. Gruenwald suggests that while a rate cut in December was originally speculated, the possibility of an earlier cut in September may increase depending on future economic data. He highlights the need for more evidence and a moderation in economic slowdown rather than a rapid decline. The global rate cut cycle has already begun with cuts from the European Central Bank and Bank of Canada, but the US economy's performance will be a crucial factor in determining the timing of any rate cut by the Federal Reserve.
Source: YAHOO