JPMorgan and Bank of America no longer expect the Fed to cut interest rates by 50 basis points in November

BlockBeats news, October 4, JPMorgan Chase and Bank of America currently expect the Federal Reserve to cut interest rates by 25 basis points when it meets again in November. They had previously called for a larger rate cut, but labor market data showed that the US economy was resilient, so they abandoned their previous calls.

Michael Feroli, chief U.S. economist at JPMorgan Chase & Co., and Aditya Bhave, an economist at Bank of America Corp., both cited Friday's jobs report as a reason to adjust their expectations for the Fed's path of easing. They cited a solid job market as a reason for the Fed to take a more cautious approach, given the Fed's 50 basis point rate cut in September.