Odaily Planet Daily News: Due to stronger-than-expected U.S. employment data in May, JPMorgan Chase economists postponed the forecast of the Fed's first rate cut from July to November. Previously, JPMorgan Chase was one of the few institutions that still predicted the Fed's rate cut in July. The bank's chief U.S. economist Michael Feroli currently expects the Fed to cut interest rates for the first time in November and to cut interest rates for consecutive quarters next year. After the release of the May non-farm data, Feroli said, "The possibility of a rate cut in July now seems slim. Household survey indicators are expected to be weaker in the three employment reports from now to September, but given the recent momentum of job growth, we think it may take five reports from now to November to show weakness to pass the test of a rate cut." (Jinshi)
