Fed is close to cutting rates - NAB
|Tony Kelly, senior economist at National Australia Bank, suggests that trade disputes continue to cast a shadow over the US economic outlook.
Key Quotes
“While recent data suggest some upside risk to our Q2 GDP forecast, business surveys point to a slowing economy.”
“The Fed is getting ready to cut rates; we expect two 25bp reductions in the federal funds rate, with July and September now the most likely dates.”
“There is considerable event risk around these projections – including the upcoming meeting between the US and Chinese Presidents.”
“Risks still appear slanted towards the Fed making more rather than fewer cuts.”
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