According to BlockBeats, major Wall Street banks are currently divided in their predictions for the first interest rate cut. JPMorgan Chase and Goldman Sachs anticipate the first cut to occur in July, while Wells Fargo is betting on September. Bank of America, on the other hand, expects the first cut to not happen until December. Meanwhile, some Federal Reserve policy makers have even suggested the possibility of a rate hike instead of a cut.
According to futures market data, Wall Street's best bet for the first rate cut is September, and the extent of the cut is not expected to be significant. Data from CME FedWatch indicates that the likelihood of the Federal Reserve cutting rates in September is currently around 44%.
