Reported 2 months ago
JPMorgan and Citigroup have forecast significant interest rate cuts from the Federal Reserve due to recent labor market data indicating a cooling economy. Following an uptick in the unemployment rate in July to its highest in nearly three years, economists expect a series of rate reductions, suggesting cuts of half a point in September and November, with further cuts following into 2025. This shift in outlook comes as Fed Chair Jerome Powell signaled readiness to respond to economic weaknesses, prompting increased market speculation on imminent rate adjustments.
Source: YAHOO