JPMorgan, Citi See Fed Dealing Two Half-Point Rate Cuts in 2024

From bnnbloomberg.ca

Wall Street banks are ramping up expectations for an aggressive Federal Reserve easing cycle based on the latest evidence that the labor market is cooling. Economists at Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co. revamped their forecasts for US monetary policy Friday after data showed the US unemployment rate rose again in July, calling for earlier, bigger or more interest-rate cuts. Economists at Citigroup — already among the most aggressive in calling for the Fed to cut interest rates this year — said they expect half-point rate cuts in September and November and ... (full story)