Fed to cut rates at the July meeting – Danske Bank
|Danske Bank analysts note that yesterday Fed officials revealed further their preferences on how to support the US economy.
Key Quotes
“Jerome Powell told a Paris audience that the Fed is "carefully monitoring" downside risks to U.S. growth and "will act as appropriate to sustain the expansion”, echoing his Congressional testimony.”
“Chicago President Charles Evans predicted two reductions this year based on the need to lift inflation, although also saying it might not be enough. Dallas chief Robert Kaplan said a "tactical" cut might be warranted, but one should be enough. We are predicting the Fed will cut rates three times this fall, starting with a cut at the July meeting.”
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