According to the Wall Street Journal, the poor employment report has forced the Fed to consider a hard landing. Citi and JPMorgan currently expect the Fed to cut interest rates by 50 basis points in September, 50 basis points in November, and 25 basis points in December. CME shows a 78% probability of a 25 basis points cut in September and a 22% probability of a 50 basis points cut. JPMorgan expects the Fed to eventually cut its benchmark rate to around 3%, with rate cuts continuing until the third quarter of 2025. x.com/NickTimiraos/s…