Leading investment banks are forecasting that the Federal Reserve may begin cutting interest rates as early as September. Wells Fargo and Goldman Sachs both predict two 25-basis-point cuts in September and December. ANZ and TD Securities also expect the Fed to restart its easing cycle in the third quarter, likely at the September meeting. Bank of America cites downside risks to economic growth as a reason for a potential 50-basis-point cut later this year.
Standard Chartered suggests that once Waugh's nomination is confirmed, the Fed may focus on revitalizing the labor market, while Commerzbank anticipates pressure from the U.S. president could lead to a rate cut by year-end. Barclays and ING maintain that if inflation declines, the Fed will likely begin easing policy in September. BNY Mellon ties its forecast to geopolitical developments, expecting two rate cuts in the fourth quarter if the Strait of Hormuz reopens.
Major Banks Anticipate Fed Rate Cuts Starting September
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