[Macquarie's forecast for the first Fed rate cut is brought forward to December this year] Golden Finance reported that Macquarie Group economists expect that the Federal Reserve will start to ease monetary policy from December, rather than the first quarter of 2025, thanks to the recent decline in inflation. "Breadth indicators show clear improvement, which is conducive to lower inflation," economist David Doyle wrote on Tuesday when discussing the May CPI report. "This improvement, coupled with more mixed signals in the labor market, prompts us to bring forward the base case forecast for the FOMC's easing policy." Macquarie currently expects a 25 basis point rate cut in the fourth quarter, specifically in December; it was previously expected to be in the first quarter of 2025.