According to Odaily Planet Daily, Elyse Ausenbaugh, head of investment strategy at JPMorgan Wealth Management in New York, and Emily Roland, co-chief investment strategist at John Hancock Investment Management, and others hinted that the August CPI report may be an important determining factor.
Keith Buchanan, senior portfolio manager at Global Investments, which manages $2.5 billion in assets, said the August CPI report "will confirm or deny expectations of a 50 basis point rate cut, which would be the largest rate cut in a long time. As inflation falls, interest rates become more and more restrictive, so even a 50 basis point cut in the target rate would not necessarily shift policy completely to an accommodative stance."
