JPMorgan top economist says the Fed should cut rates by a half point this month
From CNBC: 2024-09-05 13:14:57
JP Morgan’s Michael Feroli recommends a 50 basis point interest rate cut by the Fed in September to reach a neutral policy around 4%. Traders predict a 39% chance of a half point cut and 61% chance of a quarter point cut. Feroli acknowledges risks to employment and inflation amid weak private payroll growth and rising unemployment.
Feroli believes the economy is not collapsing despite recent economic indicators. The Fed will decide on rate cuts on Sept. 17 and 18.
Read more: JPMorgan top economist says the Fed should cut rates by a half point this month