Barclays and Barclays Bank turn to predicting that the Federal Reserve will cut interest rates in September
2025-08-25 04:53:58
Barclays and BNP Paribas expect the Federal Reserve to cut interest rates by 25 basis points in September, citing a shift in Fed Chairperson Jerome Powell's attitude to rising risks in the job market at the Jackson Hole meeting. Barclays now expects two rate cuts of 25 basis points in September and December, saying Powell's speech introduced an "easing bias" that raised the bar for not cutting rates. BNP Paribas also reversed its long-held view of the Federal Reserve staying put, predicting a rate cut in both September and December. "Powell made it clear that the Fed intends to make a'fine-tuned 'rate cut in September, unless the data indicates otherwise."
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