Reported 2 months ago
Following disappointing job growth in July, Wall Street is pushing for a Federal Reserve interest rate cut in September, with analysts sharply revising their forecasts. The Fed chairman, Jerome Powell, has left the possibility of maintaining current rates open until December, but the unexpected increase in unemployment and lower job numbers have sparked concerns about the economy's health. As international markets react negatively, calls for aggressive rate cuts grow louder, with some suggesting a total decrease of 100 basis points by year-end.
Source: YAHOO