2024/06

8

Saturday 00:21:26

[JPMorgan postpones Fed's first rate cut forecast from July to November] Due to stronger-than-expected U.S. employment data in May, JPMorgan economists postponed the Fed's first rate cut forecast from July to November. Previously, JPMorgan was one of the few institutions that still predicted the Fed's rate cut in July. Michael Feroli, the bank's chief U.S. economist, currently expects the Fed to cut interest rates for the first time in November and continue to cut interest rates quarterly 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 rate cut test."

No matter when the rate cut is made, the negative impact of the rate cut is short-lived. #BTC☀ #BICO