JPMorgan and Goldman Sachs expect the first rate cut to be in July
Major Wall Street banks currently have a large difference in their forecasts for the first rate cut. JPMorgan and Goldman Sachs expect the first rate cut to be in July, while Wells Fargo is betting on September and Bank of America does not expect the first rate cut until December. At the same time, some Fed policymakers have even raised the possibility of raising interest rates instead of cutting them. According to futures market data, Wall Street's best bet for the first rate cut is September, and the magnitude will not be large. CME FedWatch data shows that the current probability of the Fed cutting interest rates in September is about 44%.
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